A recent paper by researchers David Blanchett and Michel Finke found that retirees don’t like spending down their wealth (principal). The paper, titled Retirees Spend Lifetime Income, Not Savings, found that retirees spend a much higher percentage of their annuitized income and spend about half the amount that they could safely spend from non-annuitized wealth. It’s actually quite difficult for savers programmed to build a portfolio to suddenly start spending down that portfolio.
Let’s first examine the typical income portfolio and the associated problems I see with such solutions. Then I’ll propose an income portfolio I built for myself and use for others. Below shows just how different these income portfolios are, both using a 40% stock and 60% fixed income allocation, though this can vary greatly, depending on the client’s situation.

I've taken a careful look at CBLDX but like Observant1 don't feel it is good in a core position. Rather, I could use it to stretch risk in my near-cash (0-5 year) sleeve. For that satellite role I find it a close call.

My question starts with why do you need a core bond fund?
I looked at CBLDX and IMO, it's better than all the funds above.
I checked from 1-1-2020 and it's number one.
For one year it's not number 1, but it's still among the top.
And it's the best risk/reward fund, AKA Sharpe.
It still pays about 5.3% yearly dist based on last month.
The manager's track record is known.

Here are several funds which are/were being considered ... WCPBX
I was going to ask how you would purchase WCPBX, or in the alternative say wow, I'm impressed, $1M min in most places.
But upon checking, I see that Vanguard offers it with a $500 min. Any other ways to access it?
WABAC mentioned possible concerns over large amounts of securitized debt (presumably with its distinctive risk profile). DODIX holds 50% in securitized debt. Perhaps that is why its drawdown 8/1/21 to 10/31/22 (using monthly performance figures) was -15.11% (per M*). And its risk score (again, M*) is 16, which is a little high if one is looking for a moderately conservative bond fund.
The point is that in stretching constraints a bit one can sometimes turn up an interesting prospect. (Mona made the same point.)
With that in mind, TSIIX may be worth a look. Taking together both its junk rated (19.31%) and its unrated (5.57%) bonds, its remaining (IG) holdings are a bit under your 80% min target. And its securitized holdings, though less than those of D&C (3/8 vs 4/8) are still substantial.
Counterbalancing this is its superior stability (3,5,10 yr std devs all around 4) and a max drawdown between 10/1/21 and 10/31/22 (monthly performance) of "just" -8.09% (M*).
Personally I like the fact that its portfolio allocations can change significantly. But that does mean that you would run the risk of it meandering well outside your guardrails from time to time.