Any downside or ill effects of using useAbortableState instead of useState [custom hook] in React?

Question

I am way too irritated with the warning: cannot update state on unmounted component. And I have been using logic like:

const [mounted,setMounted] = useState(true);
useEffect(() => {
    return () => setMounted(false);
},[]);
if(mounted) setState(<newValue>);

Now these if statements are increasing in lots of places and so I decided to go with a custom hook as shown below:

import { useState, useEffect, useCallback } from 'react';

const useAbortableState = <T,>(initialValue: T): [T, (value: T) => void] => {
  const [value, setValue] = useState(initialValue);
  const [mounted, setMounted] = useState(true);

  useEffect(() => {
    return () => setMounted(false);
  }, []);

  const setNewValue = useCallback(
    (newValue: any) => {
      if (mounted) {
        setValue(newValue);
      }
    },
    [mounted]
  );

  return [value, setNewValue];
};

export default useAbortableState;

I am missing any performance stuff or some side effects which could be dangerous in this case. Can any expert confirm if I could use useAbortableState instead of useState everywhere in my components for state updates or should I go with useState with the mounted logic to play safe?

Also even though I am using the custom logic, I still get the cannot update state on unmounted component warning. I am not sure what I could be missing here?