I've mostly played the majority of my time on the game alongside at least one other player to accomplish things more efficiently. While things run smoothly as is, I've considered a feature that could easily help and improve communication with others even if you have the advantage of having a mic.
Feature Pitch:
While I wouldn't necessarily call it "stealing" an idea, after playing the game Apex Legends it's clear their ping system gives teams with random players an advantage when trying to point out certain objectives/individual plans to your teammates. You can ping where something is (i.e an enemy, loot, certain structure) and it certainly helps. I feel like a feature similar to this in Sea of Thieves would greatly improve the coop side of this game. Whether it be a nerfed version to keep things fair (Such as someone sneaking on your ship and you instantly "pinging" them to reveal their location), it's more simple than trying to find the proper pretyped sentence that may not even get your point across. I won't expand on this as I don't know what limitations should be taken if this is even considered, but it's an idea I think the devs would like to see and think about.
I might as well add since it is related to easier communication: Please add a custom chat for console players. It's hard to tell my crewmates something and usually ends up with me having to view their gamercard and message someone individually rather than letting the entire crew know which is most likely the case. It could be as simple as holding the back button, but I'm sure it can be implemented somewhere.