Backlinks and other off-site signals still form the foundation of Google’s algorithm.
In fact, 2021 search engine ranking factors study found a clear correlation between total backlinks and Google rankings.
And Google has gone on the record saying that they still use PageRank.
That said: links are only one part of off-page SEO. Google themselves state that they use other off-site SEO signals to size up your website.
For example, Google’s Quality Rater Guidelines largely relies on a site’s off-site reputation to figure out whether or not that site can be trusted.
Hope this helps.!!!