Yes. As you say it maps to a key sequence, not a scancode. Additionally, it maps as a rapid key-down sequence followed immediately by key-up, so it cannot be remapped to a modifier key, such as right control (which it often takes over from on laptops).
There are ways, which involve using a software trap to capture it and then emit right control for a set period of time, but that's a workaround rather than a real fix.
There are ways, which involve using a software trap to capture it and then emit right control for a set period of time, but that's a workaround rather than a real fix.
https://github.com/m-bartlett/remap-copilot has a good writeup in the README