it's on the tin. Both are industry standard, I don't see any deep image implementation at all (I may be dumb and looking in the wrong spot), and EXR is basically an entire menu set for importang one image sequence, and often poorly if properly at all. Sure multilayer EXR is a pain at times, but the current integration is jarring, atypical of adobe, and seems to have gotten no updates or support for the better part of a decade at least.
On the other hand, just rewriting the software from the ground up with modern standards would also solve this. it's a crying shame unreal can manage global illumination and tesselation of millions of verts, then instance those, all at over 60FPS, but on the same hardware, AE runs your computer at max, struggling to spit out some text and shapes with motion blur.