You're missing a use case for all vehicles and a specific use case for EVs. On downhills all internal combustion engines have drag from the compression combustion chambers (cylinders), which causes the car to slow down faster than just coasting. The specific use case for EVs is to imitate this behavior by applying resistance to one or more of the electric motors, which causes power to flow backwards towards the battery. The only way to avoid this is to disconnect the transmission from the engine by putting in the clutch or shifting to neutral.
In my Volt this results in the car decelerating at about the same rate as any other automatic transmission ICEV while in Drive. But if I put it in L the computer increases the the regenerative braking to slow down fast enough the car is required by the FMVSS to turn on the brake lights. On a long descent on cruise control my Volt in D will slowly accelerate (it doesn't have ACC), but L will maintain speed by modulating the regenerative braking system.
When you let off the throttle in the Clarity the same thing happens - the car is programmed to slow down like it's a regular automatic transmission ICEV. The regen paddles increase and decrease the regenerative resistance. When using ACC, the Clarity adjusts the regeneration level to maintain downhill speed. (I've seen reports the 2020s don't do this.)
Regenerative braking is somewhat of a misnomer - it can occur anytime the car is slowing down relative to the Earth's gravity well or road speed. Like all new ICEVs, PHEVs first turn off the fuel injectors to save gas. Power consumption is zero at this point. Unlike ICEVs PHEVs can then apply resistance to the electric motor for power regeneration to slow down relative to the road or the gravity well. As an example I set the ACC in my wife's Clarity to the posted 65 MPH coming down the south side of the Grand Mesa in Colorado. By the time I reached Delta, CO, which is 3,600 ft lower elevation, the car's regenerative braking system had recharged almost half the battery capacity. This was at a steady state road speed.
Be aware that at speeds above 60-70 MPH the power needed to overcome air resistance reduces the amount of power that can be fed back into the battery so at high speeds you may not see regenerative braking during descents through rolling hills, but you will see it coming down the high passes on I-70 in Colorado and the long steep grades through Pennsylvania and West Virginia.