A couple of points here. First, the standard NATO test barrel is 7.8 in long and of very specific dimensions.
Secondly, there are apparently 3 different ways in which to measure chamber pressures: SAAMI*, CIP and what ever NATO/DOD uses. [There are a couple threads on here that go very, very deep into the testing methods. Search is your friend.] SAAMI measures pressure through a drilled hole in the case. NATO (and possibly CIP, I've got the details somewhere and they're in at least one of the threads mentioned above) measure actual pressure differently and calculates the chamber pressure. So the comparisons aren't exactly apples to apples. BTW, per the STANAG document the corrected chamber pressure of the ammunition should not exceed 37,000 psi BUT no pressure should exceed 42,700 psi measured by "radial copper (crusher?)" 230 MPa/265 MPa by piezo-electric method.
Finally, the 39.7K pressure may be maximum by whatever method. That does not mean each and every round is loaded to that pressure.
Based upon the research done back in the 1980's one would have thought that simply changing bullet shape to the truncated cone/flatnose design developed and proven then would have improved terminal effect. I expect it's cheaper to jack up the powder charge. Governments can do all manner of strange things by contract. One would assume there is a hold harmless agreement between DOD and whoever is making the ammo. These were in place when +P+ ammo was produced.
Added edit: STANAG 4090 shows a round nose bullet in the ammunition specification drawing with a specified radius for the nose. There's a note that the radius is the maximum radius for a round nose bullet. Unclear if that means NATO requires a round nose bullet or if that's just the maximum if a round nose is used.
*SAAMI has 3 maximum pressures: Maximum Average Pressure (MAP,) which is the pressure ammunition is supposed to be loaded to and is 2 standard errors (SD/# rounds tested) below Maximum Probable Lot Mean (MPLM- mean isn't an average) pressure of 39,700 psi for +P. Maximum Probable Sample Mean (MPSM) of 41,500 psi which ammunition should never exceed. I expect the NATO 42,700 is their version of MPSM. There's no 9 mm+P copper crusher value available but standard 9 mm CUP is 2.1K lbs less than the psi rating.
Assuming we're talking about using the same pressure measurement methods, the M1152 seems to be using the SAAMI 9mm+P MLPM as their maximum.