Importing iCloud Music Library (Apple Music) after Apple ID country or region change

A known painful obstacle when it comes to changing Apple ID country or region is entirely losing your iCloud Music (Apple Music) Library after the change.

I know the content and copyrights are different among the countries, but I'm still not sure what is the reason for Apple not matching songs from a user's library in the current country to the songs available in a new country and keep the library intact as much as possible. This is a horrible user experience, especially for dedicated Apple ecosystem users. But probably this is a part of another discussion.

Music app allows to export the whole library in XML file and then import it back:

https://support.apple.com/guide/music/save-a-copy-of-your-playlists-mus27cd5060f/1.1/mac/11.0

So theoretically you can do the following process:

1. Export the whole library into the XML file
2. Cancel Apple Music subscription (required before changing Apple ID's country or region)
3. Change Apple ID's country or region
4. Subscribe to Apple Music
5. Import the library back

Has anyone tried this process? Will it match the songs listed in the exported library XML file with the songs available in Apple Music of the new country?

Also, I'm kind of concerned about the whole process of changing Apple ID's country or region when it comes to other services. What about other iCloud data such as Calendar, Reminders, Notes, Photos, etc? Will that content be safe and sound after the change?