On the Y, the oil pressure readings are taken after the oil filter which means any restrictions that are present within an oil filter will show up as a reduced oil pressure at the gauge. But if the bypass valve on the filter is prematurely open, then there is the potential for the gauge to show an increase in pressure.
The 272 in my ’55 Customline at 100K+ miles still has 55 lbs oil pressure at cold idle, 70 lbs at a fast cold idle, 25 lbs. at a hot idle, and 50-55 lbs. when hot and cruising in overdrive. This is with 10W-40 TropArctic oil. And these oil pressure readings haven’t changed much since rebuilding the engine back in 1990.
With the Y oil pump being actually being over-engineered as far as the amount of oil the engine actually requires, then if the internal engine oil clearances are nominally on the tight side, the oil pressure will be also be on the high side or whatever the limit is for the relief spring in the oil pump. And don't forget the viscosity of the oil that's being used as that's also as big a player in the final oil pressure as the other variables being discussed.