It's much better than it was on release, but the papacy still needs some work to turn it from a chore to an interesting gameplay aspect. First step is to let us spend more than 5 points at once so we don't have to spam click so damn much, like adding shift+click to add 50 points to one cardinal or something. It'd also be nice to slow down how often cardinals switch, possibly by forcing a country to get X more votes to take the cardinal rather than simple majority, or an arbitrary lock-in time after gaining majority where that cardinal can't be influenced. The SOI system from Vicky 2 is another option, though that'd be a fairly large system for what is ultimately only one minor-ish aspect of a huge game.
Edit note-It's not about "the papacy is too hard to control" it's "the papacy is too annoying to control." Dumping every 6 months certainly works (and generally works fine), but during quiet years on speed 5 it's still tedious. It's also still way too many clicks, especially when you're in the late game.