I think you have to remember that people typically stay with an organization when 5 things exist:
Focusing on balancing those 5 things and keeping your finger on the pulse of them is key to retaining great talent. If one or more of these aren't addressed, it can be really challenging for your team to want to stay and for you to keep them.
Having a culture of openness and transparency across the team. Strong support in the development and alignment with each individual PMMs career & skill development roadmap. Finally, you offer interesting and stretching projectsthat spike passions and, as a manager, give your team the guardrails to operate and then, get out of their way!
Yes, this is a pretty standard PMM interview question. When I ask, I am typically looking to see if the candidate understands product launch and go-to-market fundamentals. I'm also interested in which parts of the launch they led (i.e. was it a specific marketing channel or soup-to-nuts?).
I also like to ask different variations of this question, like "tell me about a product launch that did not go well and you had to get back on track" because let's be honest, not every launch goes exactly the way we plan :)