Meh. Shot a couple deer and several dogs and problem bears with .223. been present when two different ladies who were keen to hunt, but recoil averse, harvested decent mulie does on our property. I have both a buck and a Doe to the credit of my .223.
Never had to follow a trail to recover them.
But you have to be aware that shooting an animal in the arse, and expecting to blow it's head off, isn't on the books no matter how high you climb the caliber charts, shot placement is key, as is shot circumstance.
IMO, if you are going afield carrying a .22 CF caliber, carry a bipod or tripod to shoot off, and pick you shots with care and attention. If you are prone to taking hail-Mary shots, at running away deer, maybe you should up-gun...
A fair few years back, I posted some pictures of how I gutted out a deer, here on the Forum. That was a doe that I had clocked with my .223. Entered near side just behind her 'elbow', through the ribs, absolutely wrecked the internals, and I recovered 38 (IIRC) grains of a 50 grain generic varmint class bullet from the area against the far side shoulder and leg bones. She had walked out, gave me a clean broadside, and on impact, she took one step and rolled onto her nose. About 60 yards.
IMO, placement trumps caliber. Trying to make like you should be able to shoot through the whole body after hitting a running deer in the rump, is a whole different discussion.