Microsoft has been saying they're going to kill the control panel for 14 years.
The problem, is that in 14 years they still haven't been able to figure out how to make a feature-complete settings app, for some reason.
The bigger problem is that they're probably going to kill off control panel without having any idea how to actually incorporate basic things like "all of the sounds settings" or "advanced monitor settings" into their dated, ugly, bloated, Windows 8 Metro touchscreen era settings app.
If they gave up on their current settings app and just made an efficient, complete, and modern menu, then nobody would care. But they haven't. Realistically the only way they'll ever be able to put a decent settings menu together is to first fire literally every manager at Microsoft who approved the design of the Windows 11 GUI. That's not going to happen. So even if the current team tried to frankenstein together a "new" settings app, it would just be a reskin of the old core with clipped corners, frustratingly slow animations, multiple confusing ipad-style pages of pointlessly giant icons replacing what could be a short and easy to read list... and ads. So many ads for one drive, and one note, and whatever other useless upsell crap they're currently burning into into every other aspect of their OS.
So when they do finally make the donkey brained decision to just delete the control panel without putting in the work to finish replacing it, we'll suddenly find there's no way to calibrate your monitor, disable sound devices, or make the "My computer" icon appear on the desktop. Then what are we going to do?
It will probably take a long time to find out, because above all else, the leadership in charge of Windows 11 are not just lazy, they're extremely proud of how lazy they are.