Funny thing.
Because, I don’t often go outside my normal procedures for separations, apparently this Recolor Artwork has been a feature for over 10 years now. It was just in other areas in the past. Maybe I saw it before and dismissed it as a good option for me. I donno, but it’s been there. It is pretty complex or can provide hundreds of Pantone shades. And the. You have to take extra steps to narrow it down. That’s probably why I avoided it. It’s not useful if someone provides a auto traced photo in CMYK. Is vector, but with thousands of elements. The same issue when someone uses filters for effects and then exports them or your convert it from Illy to Corel. It’s all CMYK and many many elements. So this method is just not useful. For those, a good (copy and paste) into photoshop is a great option.
I think I only started using it maybe 2 years ago (very useful on easier jobs).