That doesn’t mean that you don’t have a process at all. You might have once or twice a week sync meetings, and a biweekly planing meeting.
But scrum as it is traditionally thought (Daily stand ups, scrum master, agile coach) and all that hoopla is thought to be out of date.
If a company is spending 500k for an engineer the last thing they want is pointless meetings wasting their time, or have a non technical lower level agile coach try to dictate things (which I have seen it happen).
At that level the expectation is that the engineer is mature and will know how to unblock themselves and doesn’t need infantile hand holding.