At some point between Oct 2023 and now, Valve seems to have quietly removed armored aimpunch (assuming my test is correct). I don't know how to find when exactly they changed it (maybe include important stuff like this in the patch note, pretty please Valve?).
This was something that was considered dumb and frustrating by the community for the longest time (13yr old post, link, link) and myself (link, link). Thank you Valve for fixing it.
Old 3klik video talking about 5% aimpunch with armor: https://youtu.be/j8NTr3zkyas?t=33