I don't think it's possible to cite a single movie as "the last classic Hollywood type movie" where its focus was entertainment and had movie magic feel to it, but I do think you could make a general list.
Some I'd throw out there for me are Mask of Zorro (1998), the Transporter (2002), the first two Harry Potter films.
What about you guy's. What's your personal list of movies that were sort of the last of that era where movies felt like movies and had something special to them?
Think the last time I thought that in a cinema and it wasn't simply nostalgia (like I had with Top Gun Maverick which was a good film but harkened to the past) was Birdman (2014) as I loved the way they made it seem one continous shot and the acting in was great.
I also enjoyed Birdman. Saw it in theaters.
I'd say Django Unchained was the last great and memorable cinema experience for me.
I saw it twice in theaters because I liked it so much.
Tarantinos best movie in my opinion.
Also saw Once Upon a Time in Hollywood in theaters and that was great too, but not as good as Django.
I absolutely loved Birdman but it's really like nothing else. With your topic it sounds like you're searching for movies that feel momentous and have some kind of universal appeal, and as much as Birdman's brilliant it's also kind of off the wall.