Microsoft has added basically the same functionality to Power Toys, called Run[0], taking heavy inspiration from Everything. But yeah this should be a built-in utility.
[0]: https://learn.microsoft.com/en-us/windows/powertoys/run
[0]: https://learn.microsoft.com/en-us/windows/powertoys/run
It makes me wish I used a journaling filesystem on Linux too.
My understanding is that everything uses the file open hooks provided for antivirus to maintain the index, which is why it appears instant.
Adding a millisecond to each open call is imperceptible to the user, and it takes less time than that if you return immediately and process the index update in the background.
[1] happy to be proven wrong.