Can you add the Right-Click dialog that allowed you to convert existing labels to annotation in the table of contents like we had in ArcMap?
I found that user interface much more user friendly and initiative than creating a new annotation feature class using catalog view in ArcGISPRO.
This screenshot was generated by right-clicking on the feature-class where I wanted to convert it's labels to annotation. The only other option I'd like to see is a mandatory name so it wouldn't auto-name your annotation but otherwise I love this interface.
EDIT: Please add this functionality at the TOC layer level - not the entire map. PRO has this dialog but only for the entire map. This means if you want to convert one layers' labels to annotation that you have to manually turn off all layers in the map and then convert all labels (that are left turned on) in the map to annotation. Then you have to turn all of the layers that you didn't want converted into annotation back on. I'm sure some users find the built in functionality convenient, but I never convert all of the labels in a particular map into annotation - only certain specific layers.
This has been marked by Kory Kramer as a Duplicate of Convert Labels to Annotation Functionality Similar to ArcMap