Settings did not carry over when updating to Premiere 2022

[videowizard.io]

Every time I do a major-version upgrade on Premiere, I always check the box to bring settings from old to new. Yet every time, it seems I am also left with no custom keyboard shortcuts, no render settings, no effects presets, default transition lengths reverted to factory default, etc etc etc. 

What settings exactly is Adobe porting into the new version when you check this box? Or, perhaps more accurately, what am I doing wrong that my settings aren't actually carrying over?

[Ann Bens]

I have to do the same every time:

I copy the entire Documents/Adobe/Premiere Pro/15.0 to 22.0.

[videowizard.io]

Good tip, but why is there a checkbox then to port settings over then? Is it really just a fake feature with no actual back end? If so, that's pretty negligent UX.