The FAA is required to evaluate the impact of new regulations on the existing fleet. A change that would eliminate or place a prohibitively high tax on leaded fuel would likely be shown to eliminate half of the GA fleet. This will not be approved until the impact can be reduced. Developing and certifying new engines and fuel system components for all the different aircraft type certificates is totally infeasible; a new fuel substitute is pretty much the only option.
The FAA has made huge regulation changes before but there has always been an alternative. The recent ADS-B mandate requires about $5k of new equipment before a plane is allowed to fly where Mode C transponders were previously sufficient. This is/was expensive for many private pilots, but was deemed to be acceptable for the safety benefits gained. Some owners have chosen not to add the ADS-B equipment and haven’t been allowed to fly in some parts of the country, but they can still fly most places. A fuel regulation that grounds half the fleet with no alternative regardless of the price is a completely other level of impact.
The FAA and most pilots want an alternative to leaded fuel (at least for the assumed cost savings if not for the environment). Energy companies are working on unleaded substitutes but current options still require an STC to burn. You probably won’t see leaded fuel going away until there is a universally approved replacement that can just take the place of 100LL at every airport in the country. Edit: or barring a complete drop-in replacement, at least an option that can be shown to work in existing engines and fuel systems without requiring major R&D.