Project mesh profile onto mesh based on normal depth?

Not a normal map exactly.

I made a mesh chain and I laid a chain over a cylinder.

What I would like is to bake the profile or image of the chain onto an image of the cylinder’s UV coordinates so that I can use it to make a crack or dent in the shape of that chain.

Is there a way to normally bake a mesh’s shape onto another mesh from the target mesh’s normal height? It would be like a cylindrical height map basically.

BI had some displacement bake didn’t it? Does 2.8+ not have that option?