This mirrors my experience. Setting goals for what you will accomplish when you aren't in charge of what you are tasked with doing is classic responsibility without authority. It mostly feels to me that it's management trying to deligate out performance management to their reports.
This is so true. As a PM, it's very arbitrary to set OKRs, when you don't even have the KPIs in place to evaluate what is meaningful.
On top of that when you have a vision, roadmap, backlog what are you going to say other than, "yessir, I'll do more better" and will definitely help out more on the distractions or "quick-wins" as you like to refer to them.
In a matter of weeks l, it's clear who is moving the needle and think peer review would show this more than management alignment to OKRs.