Many ranch horses decades ago were TBs.
One very competitive mare in AZ, when cutting competitions started, was an OTTB.
The army remount stallions that were provided to ranchers to improve their stock were most TBs.
The ones we received all were.
When we were breeding and training race horses, after they came off the track, we would retrain them and sell them locally as ranch horses and were sought after.
No, many TBs can’t normally work cattle close as well as other breeds, but for so much else you do, many can do it well.
Still, once you have ridden a truly talented cowhorse bred for that, the difference in how they can really work cattle is there.
So, why try to use a round peg in a round hole, when there are so many square pegs out there?
Team penning/sorting is not really “working cattle” where you need that kind of cowhorse talent in your horse.
While it is nice to have cow in your horse there, you can do it with training and cow in the rider, when you don’t have much cow in your horse.
When cutting, there you really can’t cut without a horse having talent for it and most of that has been bred in other than TBs.
Now, given enough time, someone could breed TB lines where some are excellent cowhorses.