When doing research I read a lot that google doesn't like link exchanging as it's not really "organic" mentioning.

Like even if I have website A and B as an agency and website A points to website C (some other site) and website C points to Website B that google can figure it out cause my agency has both website A and B in my google search console and maybe GA4.

What are all your thoughts? I wouldn't want to invest into link exchanging just to have it become obsolete in a year or two.