Since the S/4HANA 1909 release, a very slimmed-down version of WM can be used under S/4 - the so-called Stock Room Management. Some components are missing here, including Task & Resource Management, the Warehouse Control Unit Interface, Yard Management or Cross Docking. Also a decentralized WM cannot be used under S/4. Only those who want to operate a very rudimentary warehouse should consider Stock Room Management, as no new functionalities are developed beyond this. EWM is the strategic solution from SAP that is recommended.