I think the point is that, from a compiler's perspective, it's not obvious how much you should be allowed to optimise code at the cost of changing the outcomes of floating points maths - do you allow 1e-10, or 1e-6, or 1e-4 level changes? Does your compiler have to run some test calcs to bound the scale of the change introduced by rewriting fp maths? Some compilers will let you opt in to rewriting floating point maths, but that's opt in so users understand that their numeric outputs might change between optimisation levels.

For more, there's a good post on this kind of flag in Rust: https://pythonspeed.com/articles/faster-float-math-rust/