How to open System Settings
Choose Apple menu > System Settings, or search for System Settings with Spotlight.
Control Panel on Mac
Control Panel is called System Settings on current macOS versions. It is the built-in place for changing most Mac preferences.
Short answer: open System Settings when you are looking for Control Panel on Mac.
Some older Mac pages and older macOS versions use the name System Preferences, but current macOS uses System Settings.
Choose Apple menu > System Settings, or search for System Settings with Spotlight.
System Settings controls Mac preferences such as Wi-Fi, displays, keyboard, trackpad, privacy, accessibility, users, software updates, and connected services.
Callsign creates a visible alias named Control Panel in a folder you choose. When you use that familiar name, it opens System Settings. The alias is a normal visible file, not a background service or system modification.