I wish they would make a mini version of this, it would be perfect. After the 13 Mini, us small phone lovers are screwed.
I think Eric Migicovsky, the founder of Pebble, has decided he will have a go at an iPhone 13 mini sized android phone, since nothing exists in that space anymore.
Android rather than iPhone, but I've also recently given up hoping Apple would release a small phone. I recently bought a used iPhone 13 mini when my minor-regret-sized SE 2022 started playing up and I saw that all the rumours pointed at this 16E being huge.
It makes the phone less durable for a useless screen size, its pocket ability isn't much better because it is just bulkier (easier to enter in small pockets, but bigger deformation and feel) and it's just less convenient because you have to open it anytime you want to use it.
There is no replacement for a small phone, some manufacturer has to do it.
Regarding your second one, I have some good news though: ASUS Zenfone 10 is smaller than iPhone 16 by 1.1mm x 3.5mm, Samsung S24 (base model) is 0.6mm x 1.0mm smaller, and Sony Xperia 5 V is only slightly bigger.
But the Sony suggested is slightly bigger than the iPhone 16 in 2/3 of the dimensions and this comment thread is lamenting how big the iPhone 16 is! I think people who see the iPhone 16 as so large it is not an option are unlikely to consider switching to Android for an even larger phone.
It's a shame, because Sony used to make smaller phones with only slightly lower specs than their flagship phones. I also still associate them with making sensibly-sized alternatives, even though they don't anymore.
There really isn't anything mainstream out there at all. Why? Majority, clear majority, of people rejected smaller size phones sadly.