In my (very limited) experience, small companies that separate out SRE and devops are a bad smell when it comes to type of work. It ends up being something like:

Devops: Someone who is oncall for fixing all pipelines and making sure everyone has access/credentials for various services (AWS, git, etc). Maybe if they have time they can start to teraform things.

SRE: Someone who is just oncall for everything and doesn't have time to improve things

On the other hand when a job listing is not specific but mentions SRE/Devops, they seem to be looking for someone who can build new systems to make things better, rather than just keeping the lights on.

They are related but separate. SRE Handbook for Google targets that an SRE spends ~50% of their time to Dev Ops work. It wouldn't be unusual for DevOps to turn into an SRE or vice-verse.