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Our approach is to increase the revision only if it is a product change. When it is a change in the model, for example regarding formulas/conventions/ reference points on the background, we do not want to increase the revision.
How to deal with this? Best Practice?
I would read up on best practices on Configuration Management. I am a fan of Oleg's blog so start here and with related articles: https://beyondplm.com/2021/03/31/fff-form-fit-function-revisions-and-interchangeability/
That being said, Windchill is designed to support best practices. Release means you should lock it to prevent changes, revise to make changes. Use change objects or promotion requests to re-release. I've seen in my years 3 types of changes but you need to develop and document your own for you company. It comes does to risk, production process and it work case, what if sh$t hits the fan analysis.
Hope this helps.