I would posit that deeper psychological issues are what lead someone to workaholism (as a maladaptive coping mechanism). I believe it is a symptom of a larger issue which is what ultimately leads to the problems with mental and physical health.
As a workaholic, and learnaholic, I did it as a path to financial freedom and to accelerate my learning at at time I knew I had the bandwidth and will. It made me a better entrepreneur and business owner later, which is what I really wanted to do.
But as I've gotten older and have a family now I've been removing obligations for my businesses. And working more normal schedules. Taking random times off to help. Being better at triaging what's really needed from my time.
Yet, I wouldn't have change a thing with my path. It's hard to get to financial freedom and the goal of owning your own businesses with 40 hrs a week.
I don't think working more than the normal is necessarily a bad thing. Some people actually do enjoy their jobs. Or their team. Or they enjoy learning.
I know it's hard for some people to understand why some people are workaholics. I certainly have friends that don't like their jobs that have said I work too much. If you hate your 40 hour job, it's hard to imagine doing any more than that.
In the right environment, the 7+ hours per week extra to be considered a workaholic isn't much different from reading books or practicing your craft in your free time.
If they spent 47h per week doing it, people would call it unhealthy too. (or dedicated, if they have no sense of healthy temperance at all)
If someone does the average only (40 hrs) and does 7 hours of personal learning on their craft in their spare time - nobody would consider them a workaholic. That's what I'm trying to say.
I work more than the average just like many on this board. Well guess what? I'm more skilled than the average. And I have a wider range of skills than most (from software engineering to marketing). I didn't get there by clocking 40 at each role or at my own businesses. And I probably wouldn't have been able to build successful businesses without going deep into learning for years ahead of time.
To many - the extra work hours are a focus on their craft and learning. I'll add marketing tech skills. Or customer acquisition skills. Or finance.
If I was reading marketing books for 7 hours per week that wouldn't be equated with working. That would be called learning.
And to many people - that's a huge part of their life.
Just because my hobby or thirst of information may include "work", doesn't mean people with knitting hobbies after they clock out 40 have a better work/life balance.
To me - some of my work is a hobby because I find it fascinating and I'll explore different industries much like someone may explore different cuisines in their home chef hobby.
Also - I still have more regular hobbies than most people I know, because apart from some Hacker News time, I don't spend 2-3 hours daily on social media like most people.
I don't get the work/life movement (apart from employer abuse of some employees).
Do you truly enjoy your life or not? Life balance is more appropriate to consider.
While the initial steps into workaholism may be from other issues, eventually it can become the cause of many others.