How to use useCallback with memoized functions

app.js

// Taken from https://codesandbox.io/s/usecallback-hooks-vs-class-i1efp
import React, { useRef, useCallback, useState } from 'react'
import ReactDOM from 'react-dom'
import faker from 'faker'
import equal from 'fast-deep-equal'
import times from 'lodash/times'

import './styles.css'
const initialState = times(200, i => ({
  id: i,
  checked: false,
  name: faker.fake('{{name.firstName}}'),
}))

const shouldSkipUpdate = (next, prev) => {
  return equal(prev.item, next.item) && next.setChecked === prev.setChecked
}

const Child = React.memo(({ item, setChecked }) => {
  console.log('child rendered ', item.id)
  return (
    <button
      style={{
        backgroundColor: item.checked ? 'blue' : undefined,
        fontSize: 16,
        margin: 4,
        padding: 4,
      }}
      onClick={() => {
        setChecked(item)
      }}
    >
      {item.name} {Date.now()}
    </button>
  )
}, shouldSkipUpdate)

function ParentFunction() {
  const [list, setList] = useState(initialState)

  const setChecked = useCallback(
    item => {
      setList(prevList =>
        prevList.map(i => {
          if (i.id === item.id) {
            return { ...i, checked: !i.checked }
          }
          return i
        }),
      )
    },
    [setList],
  )

  console.log('Parent Function')

  return (
    <div className="App">
      {list.map(item => (
        <Child key={item.id} item={item} setChecked={setChecked} />
      ))}
    </div>
  )
}

class ParentKlazz extends React.Component {
  state = {
    list: initialState,
  }

  setChecked = item => {
    this.setState(prevState => ({
      list: prevState.list.map(i => {
        if (i.id === item.id) {
          return { ...i, checked: !i.checked }
        }
        return i
      }),
    }))
  }

  render() {
    const {
      state: { list },
    } = this
    console.log('Parent Klazz', list, this.state.list)
    return (
      <div className="App">
        {list.map(item => (
          <Child key={item.id} item={item} setChecked={this.setChecked} />
        ))}
      </div>
    )
  }
}

function App() {
  return (
    <div>
      <h1>Function</h1>
      <ParentFunction />
      <hr />
      <h1>Class</h1>
      <ParentKlazz />
    </div>
  )
}

const rootElement = document.getElementById('root')
ReactDOM.render(<App />, rootElement)