Currently Model States is a extremely quick process to generate different variations of a part or an assembly. The same as an iPart or an iAssembly (iFactory set). But currently Model States don't support all the same features of the previous iteration of this (aka the iFactory workflow). My suggestion is to activate the Tabulated parts list feature in Inventor and keep the same increased speed benefits.
Example of a Tabulated Parts List: https://forums.autodesk.com/t5/image/serverpage/image-id/454918i880AA699C5AED1C5?v=v2
Ref to Autodesk confirming it's not a feature: https://forums.autodesk.com/t5/inventor-forum/question-2022-model-states-does-tabulated-parts-lists-...
Also Called: Parts list with all Members turned to on.