It's well established timesheets are an utter failure when concerning knowledge work and derived output. There have been times where every hour had to be accounted for, allotted to projects, cost centers/departments and various general types of allowed "hours". This is more unusual today because it provably reduced productivity and sometimes even led to pointless discussions where to "punch in your hours", employees stopped caring as the time was not theirs anymore anyways. In the end, data quality would be destroyed, and the entire system a time-consuming pointless exercise in C&C futility.
The system of building on trust is a more basic form of reporting, actually more in line with business thinking. Trust is currency and life blood throughout organizations and across them. There's surely some people still doing the agonizing detailed reporting of timesheets, but even consultants are given same benefits of doubt nowadays, as companies tend to use the same system for everyone.
I'm sure the cycle will restart at some point. That situation will be one where employees have much less say in the day to day work and operations again.