It's recommended for the application, just like AMSOIL SS 0W-40, neither are approved by FCA/Stellantis.
The original SRT oil was M1 0W-40 Euro. When Fiat merged with Chrysler, they brought their Pennzoil contract with them and immediately terminated the agreement with Mobil, who had the factory and service fill contracts for Chrysler.
The Pennzoil "SRT" 0W-40 was cooked up in short order to replace it and is generally rather unremarkable, basically being a vanilla API SN RC additive package blended as a 0W-40 with considerably higher Noack than the Euro oil it replaced.
Now, the SRT engines have roller lifters, unlike many of the applications where the A3/B4, A40, LL-01...etc oils like M1 0W-40 are spec'd, which have sliding followers, like the S62 in my former M5. This may be why they went with a lower (RC-level) phosphorous additive package, which is what is spec'd for its more pedestrian 5.7L sibling. That said, that doesn't mean that areas like piston skirts, rocker tips, rings, pushrod cups, lifter bodies, timing chain...etc may not benefit from the higher levels of AW additives found in the Euro options.