In the Info Panel you can switch the Color Readout modes by clicking the eyedropper icon, as indicated by the little downward facing triangle:
Note that this mode selection dropdown includes the option to switch between 8-bit, 16-bit and 32-bit value displays.
In the Info Panel Options window you can switch the Color Readout modes via a dedicated dropdown:
Note how this dropdown menu is identical, except that it is missing the option to select between 8-bit, 16-bit and 32-bit display modes.
------
I would argue that not being able to select the bit depth of the Color Readout is a bug in the Info Panel Options UI.
The user should be able to select the bit depth of the readout in the dedicated options for the Panel, without having to know the somewhat unintuitive UX of clicking the icon with the downward-facing 'dropdown' triangle.
Photoshop Version: 24.1.1 (Windows)
AdChoices