Chosen Solution

I am curious if there is a secret U1 chip in the new AppleTV 4K remote that just isn’t activated, in hopes that it could be with future software updated?

Nope there is no U1 chip which offers ultra-wideband location services, often called UWB in the unit. Apple made a mistake! They should have put it in so when it slides to the floor or lost in the sofa or bed one could locate it or at least offer a way to enable a beeper so you could enable it from your phone! like you can do from your AppleWatch.