Is there really a decline with age when it comes to chess? I’m not sure he will really decline until he reaches his retirement age.
Caruana (the guy who lost to Magnus), mused in a podcast that chess960 feels strange as a competitor because he doesn’t really prepare (because there are far too many openings to study) and said it feels like he’s getting paid for much less work.
It's hard to say it's cognitive decline for most of the people who just aren't working as hard at 40 as they were at 25.