But what if part of the puzzle is to find the object using environmental clues? With this spell you just go straight to the object.
This goes back to it being a spell. Not everyone will use it, or use it all the time.
Your example reminds me of the crystal in the box. Your environmental clues point to looking at the box and that the crystal inside goes in the brazier. But even if the boxes are highlighted and the crystal is highlighted (which they technically are right now if you point to them) it doesn't mean you know that the boxes have anything (mimic room has empty boxes) or that the crystal goes in the brazier unless you use the environmental clues.
That's why I said to highlight anything that gets highlighted now, which is mostly just stuff that you can either telekinesis or put in your inventory and some things like boxes. You wouldn't highlight the brazier, or the holes in the wall for the pictured discs, or the elevator that you put the ice onto as some examples.
You could still have objects in your inventory fill the space you'll place them, like the crystal in the brazier or the lens in the ceiling, when you point in the area.
It might trivialize a small number of puzzles, but I don't think it'll impact that many and if it's an optional spell then it's only an extra tool for those who need it.