Sure, but say the implementation lets you try 5 codes in that 10 minutes with a 30 minute lockout. An attacker could trigger Account Recovery, blindly try 5 six-digit codes immediately, and have a 0.0005% chance getting into your account.

They could script this to run over a long period of time targeting 1 account, or they could target many accounts at once, and would probably have success.

I've implemented otp codes / magic links many times now. They absolutely always have a timeout. Say 30 minutes.