Hmm interesting thread, I just suggested something similar https://discord.com/channels/302152934249070593/1334274448999710730/1334274448999710730
Not only having a "good enough" approximation of a far away chunk good, but also having them cached locally would save the Server from sending so many updates in Multiplayer.
Especially since you might want to have a big draw distance, but if you spend most of your time in the same area, you can have a bigger draw distance while not affecting the server's performance by simply caching chunks locally.