Each and every organization I've heard of that did that, reverted to give developers local admin pretty quickly because the requests to the IT administrators for every time a developer needed admin to install a required dependency, start whatever at admin to debug, change reg settings, test installations, ect.

Senior scientists in corporate R&D often require local admin access as well. The image analysis and spectum simulation programs I needed to run and keep updated were not on the radar for our corporate IT folks. They were very good at what they did and were cooperative when we explained our needs and showed that we were competent to manage our own systems and were willing to reach out and ask questions before doing something unfamiliar. Even in R&D, most chemists could use a standard workstation. It was mainly analytical chemists/material scientists working with specialized instruments and doing custom software development that needed local admin access.