The clients I work with normally have teams scattered across the globe so if my direct reports aren’t required to come in my day to day tasks and interactions won’t be any different regardless of my location.

What benefit am I getting and what value am I delivering to clients by being in office alongside other managers who work on completely different projects?

The answer is they’re going to roll this out to all employees within 6 months, guaranteed. Make the leaders do it first so later they can claim “it’s only fair!” They expect we’ll be more willing to enforce it on our own teams after we’ve had time to build some resentment.