What is the replacement for watch with callback fn when we intentionally want to trigger rerender?

[Melweder]

I found this unanswered question in another topic: #12946

The question is: how can we replace this functionality when we intentionally want to trigger a re-render based on field's change?
The new subscribe function does not support this directly.
I believe there are plenty of real-world scenarios where we want to react to a change in one field by updating another field. However, the current documentation does not suggest how we should properly migrate the deprecated watch callback fn.

Example:

  useEffect(() => {
    const subscription = watch((values, { name }) => {
      if (name === 'carBrand') {
        resetField('carModel');
      }
    });

    return () => {
      subscription.unsubscribe();
    };
  }, [watch, resetField]);

What is the recommended way to achieve the same effect with the new API?