It was okay in warband, you could even raid villages without starting a war, if you knew the secret way
The looting skill was not good or worth points, but raiding to get your funds going in a new game as a lone bandit was awesome and you could get lotsa archery skill ups form shooting all those villagers! You could clonk village ladies on the head and make them into sword sisters too! I guess it's not 'immersive' but you could certainly make your own fun and success as a rouge in warband.
In VC I was pretty salty that it wouldn't let me do my warband solo trick "you need more men for that" ***** do you know who I am?
Skyrim has a whole thieves guild quest line.... I guess if it's not immersive I don't know what you even mean.
Bannerlord has no official Bandit gameplay, raiding is garbage, rougery is too slow to level and not so great perk wise. The best use of bandits is making them into nobles.
However, if you just want to be a bad guy, forced recruitment to take noble units is really good and executing everyone is the easiest and fastest way to paint the map!