But you are correct in that after my second or third electronics lab I realized that even standard component values vary to much that this approach is a little overkill and non-practical in a lot of cases. However there is a way to bake in discrete component values into the continuous optimization problems by using a continuous/"soft"/differentiable approximation of the min function to make "pockets" of optimal regions close to component values part of a set (for example e series values). I plan to do more writeups exploring this idea as well as looking at more complex applications such as higher order filters as you mentioned (my op-amp filter labs are what motivate me to look into this as I wasted so many hours in open lab trying to get my component values right).