this is not really an answer to your question, but more of an explanation as to why they are frame capped (I didn’t know that a plagues tale was though!)
The Gothham knight developers decided to apply ray tracing on consoles with no option to turn it off. This is extremely intensive, even for high end desktop gpus
They found that 60fps was not reachable at 4k on the PS5 and Xbox series X, so just locked the frames to 30fps instead
IMHO they should have had the option for performance mode to turn off ray tracing
To answer your question, developers know the exact hardware that is in a console so know what it is good at and not so good at e.g it might have a faster cpu but slower memory for example
They can program their game to use the hardware strengths and mitigate the Weaknesses. It is more complex than this but this is the simple version
An interesting example was the original crash bandicoot on the playstation one. The developers managed to more memory than was originally intended for developers to use(or this is how I understand it anyway. I am no developer)
https://arstechnica.com/gaming/2021/09/war-stories-how-crash-bandicoot-hacked-the-original-playstation/
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