At Google it mostly _is_ your responsibility to do that, yes.
There is substantial tooling assistance to assist with this, and it's common to make changes by adding new functionality, writing an automated transform to shift usage from old to new, sharding out the reviews to the suitable OWNERS, and finally removing the old functionality.
Very heavily used common code tends to be owned by teams that are used to this burden. That said, it does complicate upgrades to third party components.