Yep I know all that....
Why it's needed, how it works etc.
But this
One of its biggest shortcomings is that it only works at a fairly high temperature. When you start your car cold, the catalytic converter does almost nothing to reduce the pollution in your exhaust.
is the most important bit so far as use in normal UK conditions. Test have shown that it takes between 5 and 15 miles depending on driving and weather conditions for the cat to reach anything near working temperature and until then, due to the adjustments needed for the engine to operate with a cat fitted, most petrol engine pump out more pollutants.
Now guess into which mileage band the average UK car journeys falls?
Less than 5 miles, so that means the average car journey is undertaken with a cat that is not up to correct working temperature.
They were not designed for a cold wet UK they were designed (originally) for a hot dry Los Angeles.
Take your car in for an emissions test and leave it overnight before testing it as soon as it is started the next morning. It won't be 0.01% CO then.