Huh... not my experience with the "premium" license. The interface isn't as nice and definitely less powerful than something like codex/claude code/whatever, but I don't seem to have any issues with truncation or things like that. I'm usually using 5.6 thinking (not clear which 5.6 model exactly) when I'm using copilot at work. It seems... fine? I always see people here always complaining that it's nerfed, truncates things, etc etc. The only difference I see is that interface isn't as nice nor as powerful, but I don't notice the answers being noticeably worse or anything like that. Occasionally it messes up code block formatting, but that's the only thing I can think of that annoys me.
Now, the "copilots" integrated in certain Microsoft products can be really horrible. I assume those are some sort of custom models that are not very capable, most of them I consider effectively worthless. But the web chat interface where I can pick chatGPT 5.6 seems fine...
Given you're comparing to codex/claude code you probably arent talking about MS Copilot (e.g. the thing inside MS Teams but also available standalone as MS Copilot 365). Try it out and be convinced :-)