Whether we can emulate City is irrelevant to the argument. The point is that inverted full-back is a clearly defined role, and not at all a nebulous term like you claimed.So, are we Manchester City? I think we should attempt to walk before we run. Are many teams playing the same or is this uniquely Manchester City?
Keep in mind that he will still need to defend wide. Then what?
I'll still answer your other question though, it's commonly used by managers who like a 2-3-5 setup in attack while having cover for the counter. Mancini used it with Italy in Euro 2020, using Di Lorenzo as an inverted full-back. Bielsa used it with the Chilean national team and Leeds.