AKAWN

SQL Server 2017 sys.dm_os_file_exists

Yes, there is now a xp_fileexist alternative called sys.dm_os_file_exists.

Below shows both in action.

--pre 2017 
EXEC xp_fileexist 'c:\Windows\notepad.exe';

--new way
SELECT * FROM sys.dm_os_file_exists('c:\Windows\notepad.exe');