I thought I read that there was a mention of air suspension in the manual or hidden in the UI for the Y. I could be wrong
I was in the same situation, debating upgrading my 2018 M3 to a MY for over a year. I had also been holding out for an updated suspension and increased range but ultimately decided that with the elevated value of used cars right now and some of the recent updates to the MY, to pull the trigger. I still get a heatpump, HW3, AMD MCU, Li-on 12v, front double glazed windows, heated steering wheel, Bioweapon defense and a few other upgrades.
I would say that you still get a lot of road feedback with the MYLR suspension but due to increased tire sidewall (19" tires on MY vs 19" tires on M3) I feel like the big thumps are dampened a bit in comparison.
The biggest improvement for me though has been the much more solid build quality on the MY. I had probably spent a solid year sound deadening and hunting down rattles, squeaks, creaks and never was able to resolve all of them in my M3. The MY doesn't have any of that (yet) so my enjoyment is already higher.
Ultimately, I still would like an upgraded suspension option and decided to order another MY as soon as I took delivery of my current MY. I figure it's a $250 hedge to see if 4680/range increase and some sort of adaptive suspension is released before my July EDD.