The only revolvers that have ever had recessed cylinders are the magnum calibers and of course rimfires.

As I understand it the reason for the recessed cylinders is that in the "balloon head" style of ammo cases the rim is basically a "fold" in the case wall and as a result they are pretty weak for containing the pressures of the magnum loads.

The recessed cylinders were to provide extra support for the balloon head cases to prevent blowouts, and to contain the pressure if there was a blowout.

So from a practical standpoint there is no benefit of recessed cylinders for anything other than rimfires, since no other modern cases are of a balloon head construction.

Aesthetically they allow for a smaller gap between the cylinder and recoil shield. Nostalgically they harken back to a time when the revolvers were hand-fitted pieces of mechanical art.

No other real benefit that I am aware of.