Custom Processing Unit: Hook, patch, and trace microcode at the software level
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The reason for the RISC revolution was the understanding that there are fairly strict limits of what you can achieve in a single instruction if you want your cpu to be fast. An instruction that does some complex task that you need done is not really going to be any faster than composing the same action out of RISC instructions because, thanks to pipelining, the limiting factor on the speed of your cpu is going to be the actual work anyway.
Microcode on modern x86 cpus is typically slower (takes longer to output uops, outputs less per clock than the uop cache) than simple instructions, and only exists for legacy and doing some complex operations (like context switches) where being uninterruptible and having a bit of extra scratch space is useful.
If you look at discussions about the instruction decoder of Intel processors, you often see it mentioned that they have something like three "simple" decoders and one "complex" decoder. The main difference is that the "complex" decoder is the only one which can decode instructions implemented in microcode (dispatching micro-operations from the microcode ROM), while the "simple" decoders can only output micro-operations directly (using something similar to hard-wired pattern matching on the instruction). So yes, many x86 instructions are not implemented in microcode.
The reason is that only for these cores there is a known exploit that can switch the CPU of any computer with this kind of core into a debugging mode that gives access to the microcode.
Similar debugging modes certainly exist on all Intel and AMD CPUs, but there is no public knowledge about how they can be activated and no known bugs that enable that. Moreover, this debugging mode is normally disabled on the PCB in production motherboards. So even for someone who would know how to do it for other kinds of Intel cores or for AMD, it is expected that physical access to the motherboard is needed, to make modifications on the PCB.
While this new information about the internals of the Intel Goldmont cores is very interesting, it does not increase the chances of any similar hacking of the other more modern Intel cores.
It is likely that Intel will be more careful in the future to avoid such a reverse engineering of the microcode and of the debugging mode, even if that does not really matter much, either for security or for competitors.
Seems like you can't really trace the AMD CPUs like the reversing of that Intel Microcode allows, but you can still do a lot.
The management engine does do useful stuff the issue is that we don't know what else it does too.
I believe it is providing tools which allow running the Intel CPU in a way equivalent to running a regular program on GDB. It may be possible to use a JTAG but not sure if it is a requirement.