In order to provide its users with the most stability and security, Ubuntu has used an LTS version of openssl for its own LTS releases. It has therefore remained on openssl 3.0.
Now that Noble is released and considering that another openssl LTS version is planned before 2026, we can update again.
Oracular will soon see openssl 3.2 and hopefully 3.3 while 25.04 should see 3.4. We will continue updating until reaching the next openssl LTS version, at which point we will stick with it in order to offer again an openssl LTS version on the next Ubuntu LTS.
PS: please keep in mind that these is the general plan. Release plans and schedules of various packages can change and it is impossible to make previsions for 2026 at this point.