The "Copy as Path" item is not new. It's also available in Windows 10 by holding Shift when doing a right click.
The "Copy as Path" feature has nothing to do with copying and pasting files or folders from one location to another.
What it does is copy the selected single item's full path, as a text string, to the copy buffer so that you can paste that path wherever you may need it.
File and folder copying and pasting works the same in Windows 10 and 11. You can use the menu items or Ctrl-C for copy and Ctrl-V for Paste. Use Ctrl-X for a cut (move).
Note that Windows used to include two right-click items labeled "Copy to folder..." and "Move to folder...". Those can be re-enabled via a registry setting or by using a tool that adds the registry setting for you, such as Winaero Tweaker or my free WinSetView.