Some mental abilities seem to improve as we get older
sciencealert.com
sciencealert.com
I think at 20 I would have been a better test taker if we both started a college class right now but that is about it. I am way "smarter" or "more intelligent" though at 54 vs that 20 year old self. It isn't even close.
IMO much is because we are blind to ET Jaynes Mind Projection Fallacy in this area. We think of "intelligence" as a physical property like mass that gets weaker with age like muscles or bones. It is just such a given in our thinking and language that we can't help it.
Wisdom, wisdom, where art thou?
Another thing, ADHD shows that this isn't really a choice, your brain will determine how to allocate between learning and execution without asking you.
In the following video, a Stanford professor studying aging suggests young people are faster at integrating a lot of quickly incoming information to the point of making decisions on it, but older people are emotionally more secure and can even make younger people more productive if part of the group.
But I have so much knowledge and context built up already that when I do respond, the execution is much better and leads to success (success == incident fixed, bug fixed and design fully implemented/executed and makes money).
I genuinely think that companies who don't hire older engineers do themselves a disservice. No wonder only FAANGs sustain themselves over decades, not the one-hit wonders from silicon valley.
Our whole species is centered around the concept of learning, a more efficient mechanism for knowledge transfer than genetics, and the delivery of babies so premature they are helpless and useless for years.