They've made arcane recovery a skill that you can use at any point out of combat, but only once per long rest; mechanically, for a video game, that tracks more or less with its 5e function, it's just kind of fiddly and annoying.
The current problem with Arcane recovery is the same problem that faces many of Larian's attempts: it works now, while we're level capped to 4, but after that, the UI design will make it impractical to actually use it as flexibly as you are meant to be able to.... the design is clunky and prone to growing unwieldy very quickly. Right now, your AR button pops a selection box with two options: 2 1st level slots or 1 2nd level slot. However, what happens at level 5? At 5 we can recover 3 levels worth of slots. That means we can recover: (one 3rd level), (one 2nd level and one 1st level), or (three 1st levels). Will we then have 3 identical-looking buttons to represent these?
What about at 9th level, when we can recover 5 levels worth of spells: (one 5th level), (one 4th level and one 1st level), (one 3rd level and one 2nd level), (one 3rd level and two 1st levels), (two 2nd levels and one 1st level), (one 2nd level and three 1st levels) or (All 1st levels). Will we have a strong of identical buttons for those, as they're doing so far? It's not as bad as the issue will be for sorcerer's meta magic, but it's still pretty bad.
