They’re useful for attestation, boot measurement, and maybe passkeys, but I wouldn't trust them to securely handle FDE keys for several reasons. Not only do you have to trust the TPM manufacturer – and there are many – but they also have a bad track record (look up Chris Tarnovsky’s presentation about breaking TPM 1.x chips). While parameter encryption has been phased out or not used in the first place, what's even worse is that cryptsetup stores the key in plaintext within the TPM, and this vulnerability remains unaddressed to this day.
https://arxiv.org/abs/2304.14717
https://github.com/systemd/systemd/issues/37386
https://github.com/systemd/systemd/pull/27502