Not always correct as a principle.
To define a time period also means the police will tend to keep the property at least as long (or even a bit longer) than the time period listed. If the time is 'reasonable' (and yes that can vary for sure) it's ambiguous enough to make someone wonder if they would be called out as 'unreasonable' and that in itself (in many but not all cases) makes them think a bit more.
For example you will notice that at takeout places there are no signs saying how many forks or ketchup you can take (it's implied 'reasonable'). Imagine if the sign said 'you can take no more than 5 forks' my guess is many people would then think 'it's ok I don't need to forks but since I can I will take 5 forks just in case'.
Anyway to the point how much would people think is 'reasonable'?
10 years - no way 5 years - no way (unless needed for a specific purpose ie a trial) 1 year - probably not 1 month - might be to short
... and so on.
I'm not saying so much a time shouldn't be applied but that it's not always apparent and also people tend to push to the 'last minute' with timing and so on.