I have the option on my 2022 Z71. The real option you are paying for is the rear electronic diff. Supposedly it helps alot, almost like a legit full locker. I have never actually felt it being used when driving in TX, but then again I have never driven in the snow or ice b/c my 2022 Tahoe is a lemon and has been in the shop for over 150 days and was a pavement princess.
If you need real off-road capability get a Toyota or something else b/c the Z71 with the enhanced off road package does not come with underbody protection for the gas tank and has openings for the transmission and part of the engine, lots of exposure. Also the air suspension is cool but mine went out (part of my lemon claim actually) and when it does, depending on the exact issue, the vehicle will either go into a limp mode where you can't go faster than 56 mph or won't drive at all.
Bad Tahoe off road:
It also has no front locker
no underbody cameras
no center diff lock
not a true rear locker with the electronic or stock one
air suspension at highest setting is a harsh ride and does not allow lots of articulation, have to be in 4 LO to put in highest setting
not great underbody protection
4 corner independent suspension lacks articulation of solid rear axle, and has more components exposed at lower heights
chassis is covered in a wax coating that comes off very easy, not paint. GM is cheap with chassis protection and should be avoided for true off roading or salty road areas
The good part of the Tahoe off road capability are:
4 high and 4 low system
good engine power and torque
air suspension will help in high snow/water
crawl control is easy and works great
There are some YouTube videos from the "fast lane truck" and others that show how the rear diff works, that's really the true capability you would be paying for but I can't see how it would really help for mostly normal driving, and the base rear diff locks at a certain point too. If you spend 99% on pavement get 4WD RST and you'll be just fine. Z71 is nice but I don't think the extra $ is worth it unless you are off-road regularly. Good off-road tires will help more than the electric diff and air suspension with just about anything.