Hibernation is still 100% an option on Windows. You can even set it to hibernate when you close a laptop's lid
It's part of the OS but the option can be removed by the OEM. I still haven't found a way to get it on an ASUS laptop, same for Surface Pro.
From MS's doc:
> This option was designed for laptops and might not be available for all PCs. (For example, PCs with InstantGo don't have the hibernate option.)
https://support.microsoft.com/en-us/windows/shut-down-sleep-...