As per Create alert rules - Finance & Operations | Dynamics 365 | Microsoft Learn

Change based alerts do not work for batch status changes

Change based Alerts does not work with batch status changes because it is turned off for performance reasons. Instead, you should set up the Batch alerts capability.

Some customers were using Change based alerts for batch jobs status changes before this change was introduced, and not being able to continue using it is causing a business impact.

The alternative to this is to set up alerts for batch enhanced forms (as per Set up alerts - Finance & Operations | Dynamics 365 | Microsoft Learn) however this solution is potentially not valid for all customers, as this will not work with external users, while Change based alerts for batch job status change did work with external users.

I kindly request for Change based alerts to support again Batch job status changes. A disclaimer could be added to inform the customer that using it could cause performance issues in case the batch job takes a lot of time or in case the status changes too often.