I'm going to hazard a theory that Sony execs want their cinematic universe to be as successful as half of Marvel Studios output....not like Morbius and the lukewarm anticipation for Kraven and Madame Web.

And in that vein, I think Sony wants Marvel Studios to use Spider-Man 4 to acknowledge their floundering attempts at a Sinister Six universe of films, while Marvel Studio execs don't want to be hamstrung by Sony's corporate greed at the expense of telling a good story, which has been Marvel Studios ethos since Iron Man 1.

Imo, Sony needs to hand over the Spider-Man rights because they’re being very annoying. They keep trying to build up their cinematic universe with no actual plan and they keep preventing the MCU from being able to use Spider-Man the way they want to because they wanna be greedy.