Pretty much title. It is annoying when you are playing some online co-op game (where time matters) and you cannot pause it. Server pause option would amazing in case you have to deal something in real life. I found this issue annoying in Peak and most farming games.
Stardew Valley has this to pause game in online and I hope more games would add this option.
If I recall correctly, Starcraft 2 has a pause in online match. Other players get pause screen and can unpause the game. It all comes down to both(all) players agree on pause, and can be useful if correctly implemented.
Payday 3, if all players enter the pause menu, the game actually pauses. Anyone can exit the menu at any time, and re-enter it - which again pauses the game, if all other players remain in the pause menu.
It’s nice because it lets players loot and plan while others are away, but if they too need to afk, the team isn’t screwed by a guard coming around a corner with nobody to react.