I don't use LateX explicitly (my colleagues and supervisors didn't know LaTeX and exclusively use MS Word) but I like how I can write equation in MS Word using LateX notations.
Same. I'm a PhD student in CS and manage just fine with embedded latex in word documents and a reference plugin (I use zotero). There's definitely pros/cons. Imo biggest con is the absence of something like overleaf and biggest pro is ease of use.