My sense is that it is radically shifting from a fluffy marketing arm to a department expected to contribute meaningfully to development and justify its impact. I would expect an ethics team to build frameworks that can help train/eval the model that the company spend millions of dollars and months training is going to be aligned to the ethical stances the company chooses. If they can't, the waste to time and money is huge if the model requires retraining for ethics reasons. That's a different job than pondering roko's basilisk or whether AI is alive.
The people in AI ethics who spent years thinking their job was marketing or publishing thinkpiece papers may be having to adapt quickly or get out of the field.