Hard to say. I mean, my Coffee Lake has 39 bits physical (512GB) but the chipset supports 64GB or possibly 128GB .
But, indeed, it's routine even on PCs to just spec them based on the number of RAM slots times largest memory avaialble AT THE TIME THE COMPUTER WAS MADE. I.e. there used to be all these Dells that claimed, say, 512MB maximum (because 128MB DIMMs were the largest available) but later on you could put 2GB in them (once 512MB DIMMs were available.) Or with my Coffee Lake -- the listed spec is 64GB but I'm uncertain if that's the real limit or based on the largest DIMMs available when the machine was made and it can actually take 128GB. This was reasonably common up to maybe 6 or 8 years ago -- less common now since RAM densities have increased a bit faster than (non-server) chipsets capabilities to handle larger DIMMs.
As a few have mentioned, the printing on the Pi board is just to indicate what it's equipped with, it's not some indication of maximum capacity.