It is likely a combination of usage case, price and demand.
HDD's have a place, but not as the single/main drive in a laptop - compared with SSD's they are very slow and don't handle vibrations - and laptops are more likely to be dropped etc then SSD's, so the market for them is limited.
There is a hardware "bump" at 2tb that older (now ancient) systems can't handle, but that should not be a major factor anymore.
One of the limits is the density of data that you can fit in the profile of a laptop drive is a lot less then a desktop drive, and there may not be the economies of scale to justify (for example) filling the drives with Helium because the return is just not there relative to the cost. In other words, R&D money is likely better spent on developing SSD's
You can theoretically take an external 4tb drive, remove the shell and put it in a laptop and it should work (provided the laptop space is not to thin). You can also buy a 4 or 5tb 2.5" drive (eg https://www.pbtech.co.nz/product/HDDSE4530/Seagate-BarraCuda-4TB-25-Internal-HDD-SATA3---5400 / https://www.amazon.com.au/Seagate-Barracuda-2-5-Inch-Internal-ST5000LM000/dp/B01M0AADIX )