Ahh yes, I remember that rule in A+ from like 20 years ago! I can't say I'm letting the PF allocate 48-96GB on my M.2 drive!
The PF size was, in part, tied to the memory dumps. I'd imagine if you move away from the default debug write information ('automatic memory dump') and changed that to a 'complete memory dump', after a save and reboot, it would then allocate the 1.5x RAM+. In other words, it isn't needed unless you've changed your write debugging from the default to the complete memory dump option (perhaps active memory dump too). FWIW.......I'm currently letting W11 manage things, with 32GB of RAM it sets a 4.8GB PF. Thankfully by default W11 (and I assume 10) doesn't set that 1.5x value out of the box.
In short, so long as you don't stray from the default write debugging option, a much lower value can be set without repercussions from that (I still say auto, you'd never know the difference). When I had 4/8GB systems (and at the time, small SSDs where writes were more of a concern), I manually set the PF to 2GB. For my uses, I never ran into issues.