The only "messenger" in which Status is actually usefull is Microsoft Teams. And that says as a lot. Microsoft for once got something right.
Properly implementing a Status would be very helpful, but META much like most other messenger completely failed to make use of it. Probably, they now say it's not important because no one uses it... being completely ignorant that their implementation is the reason that it's not being used.
Nevertheless... there should be a Status API in iOS to set that globally. Also, for limited time (expires in XXXX) and probably hide from specific groups or people (but that would need to be set inside the App).
"I'm currently in a plane, will check my messages only tomorrow.", "Driving most of the day, can read, but not respond, call if urgent"... stuff like that would probably have prevented a lot of "misunderstandings"... yet, here we are, META doesn't even get out of office messages on Whatsapp Business to work because in their infinite wisdom they implemented the feature on the client instead of the server, so it won't work if the Client is offline. Task failed successfully.