Apple does support older iOS for some time, iOS 16 is still supported at the moment. iOS 15 is not as of last September.
If you want to see which bugs are still present on iOS 15, many of the bugs fixed in the latest MacOS 12 advisory apply to iOS 15. You can cross reference iOS 16 and MacOS 13 notes to validate. For example, both ios 16.7.8 and MacOS 13.6.7 fixes CVE-2024-27789 and CVE-2024-23296. They share the same kernel but has different components on top.
The effort involved is minimal for a trillion dollar company, especially because they are still supporting MacOS 12. It is a business decision and not a technical one.