The PE exam is traditionally taken by people in the physical engineering disciplines; mechanical, structural, civil, and the like. By passing this exam you earn the right to use the 'Professional Engineer' title. Many (all?) permitting jurisdictions require non-trivial construction projects to be reviewed and approved by licensed PE's - this is not a joke certification.
In the physical engineering world (structural, mechanical, civil) the PE exam is seen as a mark of a competent engineer, and usually comes along with a significant pay increase, even if the engineer is not using their license to review and approve projects.
Seems to me like the PE exam would be an appropriate exam filter for software hiring.