Yellow paint is just lazy level design.
Yes, yellow paint exists to solve a real issue. But many games before it have managed to fix that issue.
Wanna guide the player through a path? Have a guide NPC go before you (might even be the villain in a chase sequence!).
Want to clearly show in which places you can do X thing? Have a clear visually distinct asset that stands out mark those places. Make sure you don't have similar assets elsewhere.
If the argument is accessibility, just make it an option to turn those special assets bright pink/yellow, or just a much more distinct (even if visually unappealing) asset for higher-budget games.
Wanna show which ledges are grabbable? This may be the only acceptable use case. But even then, there are more discrete ways like shining stones or have the character extend its arm towards it or something. Or just make basically every ledge grabbable. I had no issues in either sm64 nor in the original assassins creed, and neither had yellow paint.

