yes the above method still works – the only thing that can override this is a Layout Element to force the sidebar to be displayed on the product archive. If the issue persists then can you provide a link to the site so we can take a look.
For me the left sidebar is not removed when using “Content (no sidebars)”. This is the case with 2 of my ecommerce shops on GeneratePress theme. I don’t want to share site urls here – can I send them on your email?