In the latest Toughtworks tech radar (Vol 24 April 2021), API Contract & Expand appears as a technique to be adopted. I couldn't agree more.
We often use complex versioning mechanisms even if a more straightforward API expand and contract strategy works perfectly for most cases.
In general, API expand and contract should be enough for internal APIs. For external APIs, expand and contract should work for small changes, and API versioning is a better option for more significant changes.
If you want to practice this and other strategies to reduce risk and slice technical changes, please check out this Small Safe Steps workshop.