If I went overboard and wasn't dead, my wife knows enough to fire the engine, luff the sails, maneuver around back to my position and hit me to makes sure I was dead then call insurance company.

On a serious note. Most horseshoes are clipped onto the boat and not easy to unhook. Just throw something that floats, a cooler lid, seat cushion. When dinghy sailing they teach going to beam reach, luffing and sailing back.

I can't count how many hat overboard I have done, I just fire the engines, rotate around then turn again to come upwind and recover off the stern. Pretty easy stuff, rarely do I even luff. Luffing can create its own issue with sheets flogging in the wind.