The WooCommerce Admin has existed as a featured plugin since April 2019. The WooCommerce Admin uses code now in WordPress 5.3 to be able to use React for powering some of the UI elements. The WooCommerce Admin uses a number of custom database tables in order to store the analytics data in those lookup tables in order to improve the reporting that is included in WooCommerce. Elements of the WooComerce Admin will be used to change the UI and UX of the rest of WooCommerce sections like products and orders over future releases.
There is a filter included in the WooCommerce core plugin which will allow the WooCommerce Admin to be disabled on a site. You can use the MainWP code snippets extension to activate the code snippet on all connected child sites which have WooCommerce active on them.
If you have the code snippet in place on those child sites when you update WooCommerce to version 4.0 then the WooCommerce Admin database tables will not be created.
The WooCommerce Admin is a good idea and overtime will be more performant based. As it stands in WooCommerce 4.0.0 release the release has a number of bugs includes issues still related to high CPU usage and other performance issues.
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The database upgrade which adds a new database table related to the WooCommerce Admin as well as the custom database tables that the Action Scheduler now uses. The process can be slow to run and in a number of cases a missing database tables or multiple missing database tables will result in the site having a fatal error.