If the way is specifically for a particular mode, then use mode=designated. So a shared cycle pedestrian path is foot=designated+bicycle=designated. A footpath (US sidewalk) which allowed bikes but not designated for them would be foot=designated + bicycle=yes + footway=sidewalk, a cycle only path would be bicycle=designated+foot=no.
I used to be of the opinion "never tag a default", so don't add bicycle=designated to highway=cycleway, but now I'll freely use foot=designated+bicycle=designated (on a highway=cycleway or highway=footway) to make it clear this path is designated for both modes of transport. It also means that if someone flips between highway=cycleway|path|footway it doesn't really matter as the designated modes are still there.
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