From SAP S/4HANA 1909 & in S/4HANA Cloud, Profitability Analysis has been enhanced and renamed as “Margin Analysis”.
S/4HANA 1909 – Margin Analysis (Top-down as well as bottom-up)

In S/4HANA Cloud, “Margin Analysis” is mendatory.
In S/4HANA On-Premise, it’s recommended

The Functionality comparison with S/4HANA 1909

From Costing-Based COPA to —> S/4HANA Margin Analysis

SAP’s video on S/4HANA 1909, Margin Analysis