I doubt it matters much though. Even when I get passed the initial resume screen these days, it’s usually followed up with a “we’ve decided to pursue someone else” from the recruiter/hiring manager/etc. before I can even get to an interview. And that’s for jobs where my resume seems a perfect fit.
I also try to keep the formatting simple in hopes that the parser has an easier time. I had a previous resume that had a slightly more complex layout that I thing compiled down to tables, but recently I’ve been using one with a simpler linear/hierarchical format.
I’ve also removed some stuff I used to have on there, such as contributions to open source projects. No one I’ve ever talked to has cared about that stuff, even when the market was easier, but I suspect that’s partly because the OSS stuff I’ve done is in a different domain from my professional career.
Right now, most rejections I get at the ATS stage don’t come till 2-3 weeks after the application.
The real goal is when a human reads your resume they decide to call you in for an interview. That human doesn't have time for your whole CV, so even though it might get you to that person, it won't get you an interview: forget about the cold applications to a program, you are just wasting the other person's time if you get past the machine. If you have a job only apply to jobs you have looked into enough to know they are worth accepting an offer if you get one. If you don't have a job you can't be as picky - but you have a lot more time to investigate potential companies and design a resume to get their attention.
So my advice as someone who might read your resume: read the job ad and then modify your resume to make it fit. Don't remove unrelated jobs, but make them a couple lines, while jobs where you did things more inline with what they want get more attention. I only glance at cover letters so I wouldn't recommend you spend much time on them. Note that the above is focused on me - others are different but I can only advise how to get my attention: you get to figure out how/if it generalizes.
Honestly, finding someone worth hiring is hard. I want to know if you can do the job and nothing about the process is very good there.
If you are just finishing college [or worse looking for an internship] you will have trouble putting enough on a page to attract attention. Once you have been around for a few years though you should be cutting things - and that means there are things potentially relevant you can put back on.
It also depends on how focused you are. If you are only interested in OpenGL 1.1 jobs you would cut anything not related that and just have a single resume that you don't need to focus. I used openGl 1.1 to make a point: it is obsolete so normally you wouldn't put anything about it on a resume - but there is a small chance you would encounter it as a nice to have in an otherwise interesting job (If the job wants someone who knows Vulkan but is 10% maintaining old products: openGl 1.1 might catch their attention even though you have no Vulkan experience)
Granted this is for a relatively small company in a niche area. Maybe it is different when applying for jobs at big companies.
I scaled back a bit once I saw how people actually write job descriptions (search Google until they find something "close enough" and post that verbatim).