Yep, I can anecdotally confirm as I’m on such a routine right now.
I started losing weight from severe obesity with a caloric deficit but noticed I was also feeling weaker in general (aside from the tiredness that comes with eating under your TDEE).
I started going to a trainer and he had me change my macros so that I was consuming about 200g of protein per day in addition to 4 days per week of full body workouts on top of my cardio.
Since then I’ve lost an additional 150% of my initial weight loss, and have gained moderate muscle mass on top of that.
Professional body builders do bulk/cut/bulk/cut because after awhile you can't lose weight and put on muscle at the same time, especially if you want to get to the point of being shredded.
(well you can do it, but there is no benefit over bulking and cutting)
This comment is not responsive to mine. I am talking about minimizing muscle loss during weight loss, not losing weight and putting on muscle at the same time. And bodybuilders do exactly what I said during their cut phases -- to minimize muscle loss. (Most people losing weight on these drugs are not bodybuilders.)
The dietary regime isn't complex -- just consume a LOT of protein. Something like 1-2 g/kg/d. And non-dietary: do strength training.