The two problems called out here that wouldn’t be solved with that are the smell (not dangerous, live with it) and the radiation (very nasty indeed).
This scales from two tiny one-person capsules up big habitats, until you end up hitting structural limits of available materials for the cables.
Might be less practical than a full rotating ring, but should be much cheaper & more flexible - you can just winch the cables in and out to regulate gravity or switch back to a combined zero gravity configuration.
The main issue being moving stuff between the two sections - but if you put cargo, fuel, power supply, etc in one section & living space in the other, it should be fine. Or you can have some crawlers going back and forth via the cables.
If you just spin two masses connected by cables, the shielded area can possibly be much smaller, reducing shielding weight or enabling better shielding for the same mass.
Also you could more easily add living space & shielding incrementally, as long as you keep the two cable connected masses roughly balanced. With a ring type station/habitat, you need the whole thing (or at least most of it) complete before you get any benefits.
1) The roughly constant stream of radiation from the Sun & deep space. That drives your shielding baseline & the areas where people spend the most time in should be shielded. One concept I liked (in the manga/anime Planetes) was a big rotating habitat having de-spun zero-G "capsule hotel" in the inner core of the station where people would go to sleep & which provided the best shielding possible, both from radiation and possibly also orbital debris, etc.
2) Solar flares and coronal mass ejections that can release basically a cloud of bunch radiation it roughly random direction from the Sun at roughly random times (related to the cycle of solar activity). Those are short but potentially very intensive events that might effectively kill un-shielded people outside (eq. doing EVA work) and still be dangerous even with shielding of the regular type. But by these evens being quite short, you can have a small area with very heavy shielding (sometimes called a "storm shelter") where people would wait out the radiation storm in safety. This might even be the same as the "sleeping area" mentioned above.