The most powerful punchers in the world are boxers. They do not seem to use sine wave; I've never really noticed Mike Tyson or George Foreman using sine wave.
MMA fighters who have experience in many martial arts, such as TKD, Karate, Muay-Thai, or boxing, do not seem to use sine wave, when it is all on the line (i.e. knock the other guy out while being at risk of being knocked out).
No doubt some will try to stretch the idea of stepping into a punch as sine wave, but it is not really sine wave in the context of what we are seeing in ITF TKD.
Observations based on reality are your best bet for a correct answer.