How to do V5's 'New from...' in 3DX for Process, Products, and Parts

Hi,

I would like to like to know if the latest versions 2020x or 2021x have this capability?
Last time I used a workaround by importing a 3DXML file into V6. But I could not automate it in a clean way. I had to use WIN APIs to invoke Import 3DXML commands and it was only working on a couple of computers and failing on others. Then I had to use another workaround to keep 3DXML in a hard-coded directory.
At work, I have lots of templates in use where we use File-'New from...' in V5. I would like to support this method in 3Dx. Also I would like to know if there are new APIs available to do this task?

Thanks,
Samarinder