"Archive" items before Deleting permanently and later allow "Restore" of archived items

Right now we have many features in Product development app sidebar. Some of them are ready. It would be great to archive done features.

Not relevant. In the settings it’s possible to hide items:

So, archiving was stated as a pain back in 2019, 5 years ago. I am sure it continues to be a pain for many. Are there any updates on this? When you have deep relations between multiple objects, moving them to another database is problematic.