Cockpit is not ever going to be as good as using the underlying tools it integrates with, but it is still pretty nice for what it is and I like having it.
Sadly true: deprecated in RHEL 8, removed in RHEL 9. Although we'll continue to develop and ship virt-manager in EPEL so the majority of people will still easily be able to install it.
virt-manager is just a shim on top of libvirt same as cockpit's VM component. So there really isn't any excuse on that front. Although your comparing a tool built as a competitor to something like vmware workstation/virtualbox against a general purpose machine mgmt tool that happens to be able to do some VM mgmt as well.
PS: I think both are good, but I too use virt-manager for all my VM twitting because nothing else on linux is both as feature complete for qemu/KVM while also avoiding having to read the manual just to adjust some VM parameter.