This is a different feature than a simple logout button though (something along the lines of "sign me out everywhere"), and many (smaller) websites don't actually support this. As far as I can tell, the very website we're on doesn't support it :) The parallel use case is SSO invalidation where you may need to immediately revoke access to a service after an employee is terminated.

You would need revocation in this case. Implementing this is easier when you already have database backed tokens, but unless you intend to support these features JWT is a totally reasonable engineering decision.