That's encapsulation.Looks like it is possible to retain the asbestos board and cover with some appropriate insulation.
Anyway, whenever asbestos is covered, firstly there is the need for specialist contractors to do the work. Specialist = expensive.
Then there is the need to manage this forever, so that means remembering it's there in case of all future fitting and drilling, and telling prospective buyers it's there, and hidden, at sale time. And that will raise alarm bells