Mstn 2024 has some surfaced some iTwins Collaboration functionality as a Tech Preview.

Local iModels for faster loading makes iModels much more usable. This kind of replicates ProjectWise' Local Document Organisers cached dgns. I imagine if you are using BIC, BIC establishes connection, and can check and show which connected dgns, imodels need to be synched. Presumably this is also visible in PW Drive? Files that are not synched with either the BIC models or local dgns would be flagged in MS Explorer (icon with pencil?) and right click menu to synch.