Yes, there is C++ code still being written, and it’s a reasonable choice for some lower-level and complex code , but it’s a much smaller percentage of the whole than it was even ten years ago. Web stack stuff tends to be written in memory-managed languages, and it probably accounts for more lines of new code than anything else these days (note that I didn’t specify good code). You can have a whole career without ever getting down into the weeds.

Similarly, assembler still had some practical applications in games and video codecs when I got out of school. These days, I wouldn’t expect to see hand-written assembler outside of an OS kernel or other specialized low-level use. It’s still not gone, but it’s been gradually going for many years now. Languages without memory management likely never will completely disappear, and they have massive inertia because of the sheer number of C utility libraries lying around, but they’re gradually becoming more marginalized.

What it comes down to is: understanding how memory works is useful and broadening for someone who wants to program, but it’s no longer necessary even for a professional. (I think we’re mostly in agreement on everything except relative importance, in other words.)