One thing to keep in mind as a CRM customizer is that while you can trigger a workflow off of Opportunity (and Quote and Order) Products, you cannot update these entities with a workflow.
As an alternative, you can create an entity-level business rule on the opportunity products entity and trigger business logic, such as updating field values.
As the CRM has received updates and whatnot over the years, can you now update opportunity products with a flow?
Definitely, Corinne. This is one of the areas where Power Automate wins hands down. You can update [almost] any entity, you can retrieve and loop through multiple records, etc.