This gist demonstrates how to achieve a "Load and Navigate" navigation style using `NavigationStack` on iOS 16.

LoadAndNavigateStyle.swift

// This file is self contained and can be copy/pasted in place of the `ContentView.swift` in a default iOS 16/macOS 13 app.

import SwiftUI

struct ContentView: View {
  @State var path: NavigationPath = .init()
  @State var isLoading1: Bool = false
  @State var isLoading2: Bool = false
  @State var isLoading3: Bool = false

  var body: some View {
    // Binding the `$path` is only required for the example #1, as we append to it manually. Other examples can work with implicit `path` on iOS.
    NavigationStack(path: $path) {
      List {

        // #1 - Simple `.listNavigation` use. Would work with a simple `.navigationDestination.
        NavigationLink(value: 4) {
          Button {
            Task {
              guard !isLoading1 else { return }
              self.isLoading1 = true
              defer { self.isLoading1 = false }
              try await Task.sleep(for: .milliseconds(1000))
              self.path.append(4)
            }
          } label: {
            LabeledContent("Load and Navigate to 4") {
              if self.isLoading1 {
                ProgressView()
              }
            }
          }
          .buttonStyle(.listNavigation)
        }

        // #2 - Deferred navigation. Will use `.deferredNavigationDestination.
        // Note that we don't have to provide the destination value like for the `NavigationLink`
        // I'm using a random value to exerce this.
        DeferredNavigationLink(for: Int.self) {  // (for: T.Type) because Swift can't infer from the closure
          self.isLoading2 = true
          defer { self.isLoading2 = false }
          try await Task.sleep(for: .milliseconds(1000))
          return Int.random(in: 5..<100)
        } label: {
          LabeledContent("Load and Navigate to a random number >= 5") {
            if self.isLoading2 {
              ProgressView()
            }
          }
        }
        
        DeferredNavigationLink("Load an navigate to 100", for: Int.self) {
          self.isLoading3 = true
          defer { self.isLoading3 = false }
          try await Task.sleep(for: .milliseconds(1000))
          return 100
        }
        
      }
      .toolbar {
        if self.isLoading3 {
          ToolbarItem(placement: .navigationBarTrailing) {
            ProgressView()
          }
        }
      }
      .navigationTitle("Load & Navigate")
      // This registers both navigations for `Int`'s, from `NavigationLink` or `DeferredNavigationLink`.
      .deferredNavigationDestination(for: Int.self) { int in
        Text("\(int)")
      }
      // Not required in Lists on iOS
//    .navigationPath($path)
    }
  }
}

struct ContentView_Previews: PreviewProvider {
  static var previews: some View {
    ContentView()
  }
}

// --- End of example ---

extension PrimitiveButtonStyle where Self == _ListNavigationButtonStyle {
  /// A button style suited for "Load then navigate" navigation style.
  ///
  /// You typically assign this style to a `Button` positioned as the `Label` of a `NavigationLink`
  /// When a `Button` is styled with `.listNavigation`, the row will highlight on press, but
  /// releasing the button will perform the action and not trigger the `NavigationLink` as it would
  /// happen for an unstyled `Button`.
  public static var listNavigation: some PrimitiveButtonStyle { _ListNavigationButtonStyle() }
}

public struct _ListNavigationButtonStyle: PrimitiveButtonStyle {
  // TODO: Check with accessibility and focusing
  public func makeBody(configuration: Configuration) -> some View {
    configuration.label
      .frame(maxWidth: .infinity, maxHeight: .infinity, alignment: .leading)
      .contentShape(Rectangle())
      .onTapGesture {
        configuration.trigger()
      }
      .onLongPressGesture(minimumDuration: 0, maximumDistance: .infinity) {
        // This prevents non-tap (or failed tap) gestures to activate the parent `NavigationLink`.
      }
  }
}

extension View {
  /// Declare a navigation destination for a value generated from a ``DeferredNavigationLink`` or
  /// a `NavigationLink`.
  public func deferredNavigationDestination<Value: Hashable, Destination: View>(
    for: Value.Type,
    @ViewBuilder destination: @escaping (Value) -> Destination
  ) -> some View {
    // We register both cases, sync and async.
    self
      .navigationDestination(for: Value.self, destination: destination)
      .modifier(
        DeferredNavigationDestinationModifier<Value, Destination>(destination: destination)
      )
  }
}

// Internal `navigationDestination` wrapper. Mostly to hide `Deferred<Value>`
struct DeferredNavigationDestinationModifier<Value: Hashable, Destination: View>: ViewModifier {
  let destination: (Value) -> Destination
  func body(content: Content) -> some View {
    content
      .navigationDestination(for: Deferred<Value>.self) { deferred in
        if let value = deferred.wrappedValue {
          destination(value)
        }
      }
  }
}

// Internally used to provide a placeholder to `NavigationLink(value:…)`. The property wrapping is
// not used yet.
@propertyWrapper
struct Deferred<Value: Hashable>: Hashable {
  init() {}
  var wrappedValue: Value?
  var projectedValue: Self { self }
}

// An internal abstraction for a navigation path sent through the environment
struct CurrentNavigationPath: EnvironmentKey {
  static var defaultValue: CurrentNavigationPath? { nil }
  var _append: (any Hashable) -> Void = { _ in () }
  init() {}

  init(path: Binding<NavigationPath>) {
    self._append = { path.wrappedValue.append($0) }
  }

  init<Collection: RangeReplaceableCollection>(path: Binding<Collection>) {
    self._append = {
      guard let element = $0 as? Collection.Element
      else { return }  // TODO: Print message?
      path.wrappedValue.append(element)
    }
  }

  func append<Value: Hashable>(_ value: Value) {
    _append(value)
  }
}

extension EnvironmentValues {
  var currentNavigationPath: CurrentNavigationPath? {
    get { self[CurrentNavigationPath.self] }
    set { self[CurrentNavigationPath.self] = newValue }
  }
}

/// A view that controls a navigation presentation using an async value
public struct DeferredNavigationLink<P: Hashable, Label: View>: View {
  let action: () async throws -> P
  let label: Label

  @State private var value: Deferred<P> = .init()
  @State private var onTapRequest: Int = 0
  @Environment(\.currentNavigationPath) var currentNavigationPath

  /// Creates a navigation link that presents the view corresponding to a value that is generated
  /// asynchronously
  /// - Parameters:
  ///   - for: The type of the `P` value that is generated.
  ///   - action: An asynchronous closure that returns a `P` value.
  ///   - label: A label that describes the view that this link presents.
  public init(
    for: P.Type = P.self,
    action: @escaping () async throws -> P,
    @ViewBuilder label: () -> Label
  ) {
    self.action = action
    self.label = label()
  }
  
  /// Creates a navigation link that presents the view corresponding to a value that is generated
  /// asynchronously
  /// - Parameters:
  ///   - titleKey: A localized string that describes the view that this link presents.
  ///   - for: The type of the `P` value that is generated.
  ///   - action: An asynchronous closure that returns a `P` value.
  public init(
    _ titleKey: LocalizedStringKey,
      for: P.Type = P.self,
      action: @escaping () async throws -> P
  ) where Label == Text {
    self.action = action
    self.label = Text(titleKey)
  }
  
  /// Creates a navigation link that presents the view corresponding to a value that is generated
  /// asynchronously
  /// - Parameters:
  ///   - title: A string that describes the view that this link presents.
  ///   - for: The type of the `P` value that is generated.
  ///   - action: An asynchronous closure that returns a `P` value.
  @_disfavoredOverload
  public init<S: StringProtocol>(
    _ title: S,
      for: P.Type = P.self,
      action: @escaping () async throws -> P
  ) where Label == Text {
    self.action = action
    self.label = Text(title)
  }
  
  public var body: some View {
    NavigationLink(value: value) {
      Button {
        Task {
          self.value.wrappedValue = try await action()
          if let path = self.currentNavigationPath {
            path.append(self.value.wrappedValue!)
          } else {
            self.onTapRequest += 1
          }
        }
      } label: {
        label
      }
      .buttonStyle(.listNavigation)
      .background {
        CollectionViewInteractor(onTapRequest: onTapRequest)
      }
    }
  }

  struct CollectionViewInteractor: UIViewRepresentable {
    let onTapRequest: Int
    func makeUIView(context: Context) -> CollectionViewFinder {
      CollectionViewFinder()
    }
    func updateUIView(_ uiView: CollectionViewFinder, context: Context) {
      uiView.onTapRequest = onTapRequest
    }

    final class CollectionViewFinder: UIView {
      var onTapRequest: Int = 0 {
        didSet {
          if onTapRequest != oldValue {
            simulateCollectionViewCellTap()
          }
        }
      }

      @discardableResult
      func simulateCollectionViewCellTap() -> Bool {
        guard
          let cell = self.collectionViewCell(from: self),
          let collectionView = self.collectionView(from: cell),
          let indexPath = collectionView.indexPath(for: cell)
        else { return false }
        collectionView.delegate?.collectionView?(collectionView, didSelectItemAt: indexPath)
        return true
      }

      func collectionViewCell(from view: UIView?) -> UICollectionViewCell? {
        (view as? UICollectionViewCell) ?? self.collectionViewCell(from: view?.superview)
      }

      func collectionView(from view: UIView?) -> UICollectionView? {
        (view as? UICollectionView) ?? self.collectionView(from: view?.superview)
      }
    }
  }
}

// Optional on iOS, required on other platforms for now.
extension View {
  /// Injects a navigation path through the environment, so children can append values to it to
  /// navigate programmatically.
  /// - Parameter path: A binding to a `NavigationPath`
  public func navigationPath(_ path: Binding<NavigationPath>) -> some View {
    self.environment(\.currentNavigationPath, .init(path: path))
  }
  /// Injects a navigation path through the environment, so children can append values to it to
  /// navigate programmatically.
  /// - Parameter path: A binding to a collection that is bound as the path of a `NavigationStack`
  /// or `NavigationSplitView`.
  public func navigationPath<Data: RangeReplaceableCollection>(_ path: Binding<Data>)
    -> some View
  {
    self.environment(\.currentNavigationPath, .init(path: path))
  }
}

// MIT License
// 
// Copyright (c) 2022 Thomas Grapperon
// 
// Permission is hereby granted, free of charge, to any person obtaining a copy
// of this software and associated documentation files (the "Software"), to deal
// in the Software without restriction, including without limitation the rights
// to use, copy, modify, merge, publish, distribute, sublicense, and/or sell
// copies of the Software, and to permit persons to whom the Software is
// furnished to do so, subject to the following conditions:
// 
// The above copyright notice and this permission notice shall be included in all
// copies or substantial portions of the Software.
// 
// THE SOFTWARE IS PROVIDED "AS IS", WITHOUT WARRANTY OF ANY KIND, EXPRESS OR
// IMPLIED, INCLUDING BUT NOT LIMITED TO THE WARRANTIES OF MERCHANTABILITY,
// FITNESS FOR A PARTICULAR PURPOSE AND NONINFRINGEMENT. IN NO EVENT SHALL THE

Thank you @tgrapperon. I found this very helpful. I will note that on Xcode 16.1 in iOS 18.1 when testing the 2nd and 3rd entries (the DeferredNavigationLink format) I had to uncomment line 73 (.navigationPath($path)). Otherwise, the first tap would always navigate to an empty screen.