I still try to understand where the advantages of script context is. For me looks like another unnessary coding layer, making things only more complicated. For sure we load the full scripts always via lua require().

I found the information that:

Lua require() uses a table called package.loaders to store functions to load modules.

So package.loader handles all nessessary problems here.

We can simple include another script with one line.

require("scriptname")

And straight call our functions in there. We also have the knowledge where the included file is.

Using script context, we need first to split if we need an object, a function, a helper, a module and we need to handle this extra api plus the script functions we want to use.

So where is the advantage to use

require("script_context")
require("scriptname")
local f = ScriptContext:GetFunction("function name")
local result = f(parameters)

instead of

require("scriptname")
local result = function name(parameters)

beside that one is global and other is modular.

I also think that script context will slow down the processing and uses more memory.