Validating a core to server standards takes significantly longer.

V4 cores should be out this year using X925 and C1 Ultra-based V5 will probably be 2027-2028.

I suspect that X4 is already fast enough to beat EPYC in per-core performance when using the whole chip. ARM caught up/passed x86 in IPC all the way back around A77/78 in 2019-2020. They are now much faster per clock and hitting about the same all-core clockspeeds as standard EPYC (let alone zen5c EPYC).

The big issue is that Graviton5 is already starting to hit the market and uses the same v3 cores. A lot of marketshare for this chip will probably come from taking Ampere customers.