Spectral Lynx

• WOTC Official Reminder Textofficial rules
  Protection — This permanent can't be damaged, enchanted, equipped, blocked, or targeted by [quality].

• WWizards of the Coast2022-12-08
  Official Ruling
  You can activate the regeneration ability even if Spectral Lynx isn’t at risk of being destroyed.
• WWizards of the Coast2022-12-08
  Official Ruling
  Spectral Lynx can regenerate even if it isn’t in combat, it’s already tapped, or it’s undamaged.
• WWizards of the Coast2022-12-08
  Official Ruling
  Activating the ability creates a replacement effect that acts like a shield, replacing the next time Spectral Lynx would be destroyed that turn. This shield works against effects that try to destroy Spectral Lynx or lethal damage that would be dealt to Spectral Lynx.

Rulings via Scryfall