There are few engineering management positions listed. The few I saw in the bay area resulted in excluding me because of my age (Stripe, I'm looking at you.)
It's frustrating to keep being pushed into individual contributor roles and then have low quality engineering managers hired in above you. (And I know I can do it because I end up leading teams all the time, they naturally form a round me. The members of the team are very happy with me- I have no authority but I end up leading them anyway.)
So I think the route for "old" folks is blocked also by the desire of non-engineers to make engineering management be done by non-engineers.