"Bystedt's Blender Bakes" is a free add-on for Blender

Senior concept artist at Goodbye Kansas Studios, Daniel Bystedt, was one of the most prominent artists using Blender before its groundbreaking release 2.80. He created some key demonstrations for the then-new Eevee renderer. Bystedt's Blender Baker marked his first public step into tool development, followed by the free Bystedt's Cloth Builder add-on for cloth simulation.
The add-on enables users to create their own sets of texture maps from models in Blender. This includes standard geometry-based maps like normals, displacement, and occlusion, as well as standard PBR textures including Metallic, Roughness, and Glossy.
One of its more unique features is the Channel Transfer function, which allows you to combine separate RGB color channels from various types of maps into a single packed texture.

The add-on automatically matches the source high-poly model and the target low-poly one based on their bounding blocks and also separates parts of the source model to avoid intersection issues.
Bystedt's Blender Bakes is available for the current release of Blender, and it's distributed for free. You can download Bystedt's Blender Bakes from the developer's store on Gumroad.