IIRC, on Xbox One and newer, the physical disc open the store and starts a download there. You have to do that with an internet connection and then disconnect to make the disc to disc things (by copying from the disc instead of the interwebs). And then connect back for the update.

If the code is not attached to an online account that you can´t detach from, sure. Because that means I can sell that game later or even borrow it to a friend.