In fact, bitfield extract is such an obvious oversight that it is my favourite example of how idiotic the RISCV ISA is (#2 is lack of sane addressing modes).
Some of the better RISCV designs, in fact, implement a custom instr to do this, eg: BEXTM in Hazard3: https://github.com/Wren6991/Hazard3/blob/stable/doc/hazard3....
In the meantime, it can be done as two shifts: left to the MSB, and then right filling with zero or sign bits. There is at least one core in development (SpaceMiT X100) that is supposed to be able to fuse those two into a single µop, maybe some that already do.
However, I've also seen that one core (XianShan Nanhu) is fusing pairs of RVI instructions into one in the B extension, to be able to run old binaries compiled for CPUs without B faster. Throwing hardware at the problem to avoid a recompile ... feels a bit backwards to me.