My workflow is based on Photoshop and ACR, so I don’t know how relevant my response will be…
These days I do virtually all of my NR in ACR, not in Photoshop. Over the past few years, ACR has become more and more sophisticated and flexible, and as that has happened I have moved more of my post-processing into ACR.
ACR gives you control over the usual NR features (amount, radius, etc) and lets you easily mask the NR to keep it away from high contrast edges and apply it mostly to areas of low contrast and/or gentle gradients.
You can also control this even more precisely by using some slightly more generic NR sliders applied to selections using the advanced selection tools in ACR. (All kinds of subject selections, brushes, gradients, luminosity/color range, etc.)
Then there is the new (and sometimes amazing) AI Denoise feature in ACR which usually does a pretty remarkable job of cleaning up noise. I have some files that are photographically credible but which ended up being very noisy — some margin handheld night photography images and some wildlife. photography done in morning and evening twilight at high ISOs. I’ve kept the raw files, in some cases for years, but felt that they weren’t usable due to the noise — but after the AI Denoise treatment they are now usable.
There are still, of course, situations in which Photoshop’s NR (combined with layers) is useful.