Content Type Hub in SharePoint Online with Modern Sites

abdullah202026 indeed the CTH still exists and works like in the old days. Great feature with lots of potential however I would be very careful going forward with the CTH as it is still underdeveloped for the modern experience and lacks some important features. I would recommend to plan carefully on what Content Types (CT's) you need and do not play around in your PROD tenant, do this in a DEV tenant. 

Reason for the above is that you after a while might end up in a position where you cannot delete old CT's anymore as you will be told that these are still in use. To delete an orphaned CT you will be required to create scripts to parse all sites in the tenant that deletes your CT, empties recycle bin etc. and still you will not be able to delete them.

The Hub today lacks features to help you in tracking down where a CT is used and in general administrative tasks such as controlling the provisioning, today it is minutes, hours or something.

So, going ahead with the Hub then ensure to have planned properly and that you do understand the implications and functionality of the CTH.