Tracking time spent on various tasks can be useful (if not required, eg. for claiming R&D grants). But I feel like tracking time in office/time at desk is a different beast.

Happy employees, at a certain level of knowledge work, have a degree of autonomy.

Unhappy employees who could otherwise be happy employees are a waste of potential and money.

Having a clock on/clock off and a 9-5 butts-in-seats management style and incentive structure reduces perceived autonomy.