I think it's probably not a skill required for most software engineering, but it's probably useful if you have a more senior engineering position where part of your role is helping and coaching less experienced people.

It's also useful to 'work a problem' with people sometimes which requires this sort of live communication, however the extent to which teams do this will vary by team. In my experience this is more common in teams that are physically located together in the same room.

Also it's not inherently clear to me that "not used in the job" means it's also bad from an assessment perspective - take defensive driving certifications for example, which require drivers to 'verbalise' what they are noticing, doing, and their decisions while they drive. Do you verbalise when you are driving in reality? No - but it is an established technique for assessment and for learning.

But each to their own. Different strokes for different folks, clearly this works for some people and not others.