If this is true, then it's a trivial enhancement to make that a configurable setting. 72 hours could be the default, if your security needs are higher, you could turn that down to 12 hours, or even less.
If this were configurable, I would make it 30 minutes and increase it if I noticed any inconvenience. But I doubt that I would. I already have my phone in permanent do-not-disturb (so a reboot causing delayed notifications wouldn't be an issue), and it's not like I mind entering my passcode instead of FaceID every 30 minutes.
I don't trust FaceID (technically, I don' trust the cops with FaceID), so I'm entering my (6 digit) PIN every time I take my phone out of my pocket anyway. The only thing that'd make me hesitate to set this down to single digit minutes would be the risk of missed calls/notifications while the phone reboots.
If you're outside the house that's less secure, because a security camera or a shoulder surfer can see your PIN.