I am currently working with a very large company that has this problem. They are highly risk adverse and are happy to pay $100 up front to avoid a $1 accidental loss.
Of course, all the processes don’t really protect them, they just get slowed down by a factor of 100 or more.
The successful people take on as many simultaneous projects as they can, because any one project will move at a snails pace.
I have told them tales of working on some internal document processing and classification systems in a fintech a few years ago where we would release to prod multiple times a day to test out different algorithms and approaches.
They flat out think I am lying.