That is expected.
If you look at the builds page the last update that is up there is April 2024 HU. Because the November SU required a manual intervention to address an issue, we never released November SU to Update Catalog (as mentioned in the FAQ here). We planned to release November SU to Update Catalog but when the regression was discovered, we decided we did not want to break servers automatically and require customers to manually fix it. Next release was April 2025 HU, which we also did not push to Update Catalog (and mentioned that here). May 2025 HU is going through the process and will come to Update Catalog as an optional update (because it is a HU, not SU).
Exchange 2019 CU15, which was released on Feb 10, 2025, did not go to Update Catalog because CUs do not go there.