With respect to us users Tjmax is not calculated, it's a specification provided by device manufacturers. The designers determine it as a part of the FIT determinations and is calculated stochastically using life test data from large sample tests. Key point is it's not an absolute.
You can get into the meat of it here:
https://www.renesas.com/us/en/document/qsg/calculation-semiconductor-failure-rates
So, they could simply slide the T(stress) temperature values up and down in the calculations and determine how it affects product life in expected use-age. They can then bounce that against warranty liability calculations (if it's set too high), factory yield (if set so low that you throw away good die) to determine the most economical point to set it at.
The way I can imagine it working is engineers will provide a range of possible values and a recommendation. It's up to management to balance warranty liability, market good will and factory yield to arrive at the final number. The way it actually works depends on a company's culture.