PlayStation: Simulation distance is limited to 10, instead of 12 like other platforms.

I played a few years ago and we had 12 simulation distance on consoles. But after an update we lost 12 and are maxed out at 10. Is there a technical reason for this? Or is my PS5 just not powerful enough???

I remember there being a despawning issue (with simulation 12) but can't find anything online about it.