It does when you have physical access to the RAM and storage, and a disassembly lab expressly configured for this purpose.
This is the backbone for a number of forensic services offered to law enforcement, and an entire cottage industry. I know with certainty it was still feasible as of the iPhone 12, which is well inside of 15 years. I don’t believe the architecture in the 13 or 14 has changed significantly to make this impossible.
With slightly earlier phones, tethered jailbreaks are often good enough, though law enforcement would more likely outsource to a firm leveraging Cellebrite or Axiom as the first step.