Command palette could as act like universal search throughout edge.
May be it could be even integrated inside the omni box. Following are some use cases:
search and toggle settings (like turn on dark mode,etc.)
search and quickly switch between open tabs
I believe last one could be helpful because now number of tabs >10 is very common and edge(or any chromium based browser) reduces the size the tab as number of tabs increases. At some point only favicons are visible. If two/more tabs have same icon we have to check all of them to find the one we need to open.
So the ability to search through the titles of open tabs can be useful