> Because SMBH growth via accretion is expected to be insignificant in red-sequence ellipticals, and because galaxy–galaxy mergers should not on average increase SMBH mass relative to stellar mass, this preferential increase in SMBH mass is challenging to explain via standard galaxy assembly pathways (Farrah et al. 2023, Section 5).
I think there are several observational effects that may obfuscate the interpretation -- but I also haven't read these papers in great detail.
First, there is a known age-metallicity-dust degeneracy that can make dusty star forming galaxies look more like red elliptical galaxies. This can bias estimates of the star formation and mass accretion history -- e.g. perhaps supermassive black holes have had more recent growth. Second, galaxies in more overdense regions may harbor faster growing supermassive black holes, and also be more predisposed to later merging and forming an elliptical galaxy. This seems likely true around cosmic noon (z~1-2), when star formation and supermassive black hole accretion activity were at their highest throughout cosmic history.
[0] https://iopscience.iop.org/article/10.3847/2041-8213/acb704