@Robert Ripps
If you Import a raw file into LrC and edit in Develop, the settings are stored in the catalog. Any AI Masking or Removes are stored in the catalog folder with the .lrcat-data appended. If you choose to save from LrC to the .xmp sidecar file, the settings and AI masking/removes are all saved to the .xmp file, making it potentially large.
If you then open the raw file in ACR, the .xmp file is read and settings applied to the photo. The AI masking/removes are written to a new file with the .acr extension and are removed from the .xmp file when Camera Raw is finished (Done or Open in Ps). The .xmp file is small again, but there is another sidecar file, the .acr file.
If you then return to LrC and Read Metadata from File, if the .acr file is available, LrC will read it into the catalog along with the other settings from the .xmp file. Now that LrC has all the metadata it needs to continue editing, the .acr file is no longer of any use to LrC. If you rename the file in LrC, the .xmp file gets renamed, but the .acr file does not. Whether this changes one day, who knows, but as far as editing the renamed file in LrC is concerned, the .acr file can be deleted.
ACR creates, writes to and reads from .acr files, which it uses to store AI generated data. If the .xmp file has this AI data saved to it by LrC, ACR will extract it from the .xmp file and save to a .acr file, making the .xmp file smaller.
LrC only reads .acr files when Read Metadata from File is done and once read, it is no longer needed by LrC. If the .acr file was deleted before being read by LrC, AI Masks and Removes would be flagged as needing Updating, which could generate entirely different content than previously generated. Not good.
From your workflow description, I understand: Import into LrC; apply Presets and some edits; save to .xmp; edit further in ACR; back to LrC and read metadata from .xmp (and .acr); and rename file (.acr is orphaned here). If you need to go back to ACR, you must save the settings again to .xmp. ACR will read that and create a new .acr file if needed. The orphaned .acr is no longer needed by LrC or ACR, so can be deleted.
I hope this helps.