Behavior will differ in each individual Creative Cloud App, please see below scenarios based on Adobe's publication:
The following scenarios apply while using any Pantone Color books in Photoshop:
Photoshop files previously created using Pantone color books will have no disruption in Photoshop versions released in or after November 2022. Colors will render and function as expected.
Note: Photoshop versions released in August, September and October 2022 will continue to render unavailable Pantone colors gray/black. Updating to the November 2022 version of Photoshop will fix this workflow.Newly created Photoshop files created after the November 2022 release will require a Pantone Connect license to access some of the Pantone color books. Users can still access Pantone + CMYK Coated, Pantone + CMYK Uncoated and Pantone + Metallic Coated after the November 2022 release.
The following scenarios apply while using any Pantone Color books in Illustrator:
Illustrator files with swatches from Pantone color books will function as before when opened or placed in Illustrator (inclusive of past or future software releases).
Illustrator files with swatches from Pantone color books will function as before when opened or placed in Illustrator (inclusive of past or future software releases).
The following scenarios will apply while using any Pantone Color books in InDesign:
InDesign files with swatches from Pantone color books will function as before when opened or placed in InDesign (inclusive of past or future software releases).
InDesign files with place-linked Photoshop files that use spot channels render Gray/Black in InDesign when colors from Color books are no longer available.