You highlight an important point: your direct manager can really make or break a lot of these but they're ultimately beholden to the same macro environment as you. I try to shelter my direct reports but if we M&A, cancel major projects or change strategic direction my teams are not isolated from the impact which can be really hard on things like working towards specific career goals and directions.

My biggest self learning while becoming a manager is that the developer acid test of "smart, gets stuff done and not an a-hole" still applies, maybe more than before. I used to get personally invested in my work and now I care about each person.