The function removes spaces from the input string and replaces every sequence of two uppercase letters with the first letter followed by "CC".

[CODE]:
```python
def approx_function(s: str) -> str:
    s = s.replace(" ", "")
    for i in range(len(s) - 1):
        if s[i].isupper() and s[i + 1].isupper():
            s = s[:i + 1] + "CC" + s[i + 2:]
    return s
```

Please note that this is an approximation and might not cover all the edge cases present in the original function.