Seconded!

I think this was set in place to stop people from, for example, continuously equipping, bonding with, and then removing numerous XP granting companions to a wolf that is still being leveled. Or to avoid grinding too many materials and money quickly. In theory, without the locking feature, people would be able to equip and bond with however many companions they owned on a single wolf. If someone had A BUNCH of companions, more than they could individually place on wolves, it might be seen as an unfair advantage if they harvested from all of them one after the other.

It can also be seen as the tradeoff we get for being allowed to interact with companions multiple times a day, as well as being allowed to bond with multiple of the same companion. Games like Flight Rising and Paw Borough only permit you to interact with a unique creature once per day. The cooldown on Lorwolf is their own unique method of limiting the benefits to avoid people totally exploiting it.

Support, so long as the remainder of the cooldown could be transferred to the wolf. If it's not possible, though, perhaps there could either be a hefty pebble fee or a Mole Market item (again, at a substantial pebble cost) that would reduce the cooldown of a companion to zero. The cost would have to be high enough to make farming unprofitable and levelling nowhere worth the expense.

ETA: Honestly, even if the cooldown can be transferred to the wolf, I'd still slap a small pebble fee onto it, just for the sake of having another pebble sink. lol

Massive support. I should have an ancient suggestion floating around somewhere on this forum about this very topic.

I wouldn't mind the playing cooldown applying to the specific wolf (Mind you, I would still want to be able to equip a new companion to it, just not play with it), because not only do you need to unequip companions for selling or trading, there are loads of other areas of the game itself where specific combinations are necessary, for example hunting, the campaign, the guantlet, the guild bosses, etc. It is incredibly counterproductive to have a part of the site itself lock you out of properly interacting with another part of the site.