In June, the upgrade of DSA campaigns to PMAX. In July, Google released an official message announcing a new upgrade tool also for content campaigns to convert to PMAX.
This migration is optional. The option to upgrade appears in the Recommendations section. Screen shared by Thomas Eccel.
Google stated that advertisers who upgrade their Dynamic Search Ads campaigns to PMAX will see an average increase in conversions and conversion values of over 15% at similar CPA/ROAS. This performance is maintained even if they have existing campaigns with maximum performance. The increase after upgrading content campaigns to PMAX was 20%.