Micrometer 1.10 will bring a new micrometer-observation module - this will bring a lightweight API designed for instrumenting code for observability (both metrics and tracing concerns).
We'd like to introduce a compile dependency on that in the spring-web module, which will allow us to instrument RestTemplate and WebClient. This should not only make the instrumentation more efficient and focused, but also fix a number of limitations of the current instrumentation contributed in Spring Boot.