I use a snap shackle to release the davit cable from the stainless ring that brings the three legs of the tender' s lifting lines together. I can remain on the flybridge/boat deck to retrieve the davit cable while freeing the tender to be handled by crew around to the boarding platform and made fast. NOT used in the lift/retrieve process though.Snap shackles are great, but probably overkill for a dinghy lift attachment. You shouldn’t need the swivel and a simple snap hook should work great.
Snap shackles are great on something like a spinnaker halyard where you may want to release it one-handed even if there is still a little tension on the halyard.