From my experience in 5 companies at various stages, engineering task management in whatever form is generally efficient until you hire your first program manager. This happened several times regardless of team size. The engineering manager/director/VP gets tired of his work and takes a break by hiring a Program manager. PM’s sole job is to make sure the tasks management is shielded from the rest of the org but invariably, they overengineer the “process”.
I am yet to meet a PM who simplifies things or makes things more efficient.