Stubby wrote:

Suppose you have to do a missed approach or just go around. What does
the controller want to see you as? You "own" the runway until you
terminate the code,

Ah, what? The code has nothing to do regarding VFR/IFR. A controller
does not gain the ability to use VFR separation standards on an IFR
aircraft because he told him to squawk VFR, such as going into an
uncontrolled field.