For my best knowledge, it’s because SDTM IG was created as a set of MS Word documents, prepared by separate teams.
Unfortunately it’s not the only error/typo in the recent version of SDTM standard. E.g., this is a list of variables with invalid Labels where length > 40 Chars:
As a short term solution until a fix of standard from CDISC will be available, I would recommend to use generic labels from SDTM, rather than invalid labels from SDTM IG.
As far as known the labels should be less than 40 characters. Why does HODECOD has a label with 52 characters (Variable Label = Dictionalry-Derived Term for the Healthcare Encounter).