We don’t do this in BSAC training anymore. Back when they had to swim lengths and tread water with a weight belt we did.
I think the point is not to be able to do it for real on a dive but to gain, and demonstrate, confidence in the water dealing with something a bit difficult. Our skill was known as ‘ditch and retrieve’ and involved leaving all the kit, including weights, mask and fins, on the bottom, surfacing, duck diving back down and refitting it all.
I can’t imagine removing my cylinder on a dive unless in tropical waters with next to no exposure protection. For sure we were being trained for conditions when it would result in heading straight to the surface.