3D rendering is so deeply pipelined that it is difficult or even impossible for the program to know if a frame render is going to finish on time. It takes a long time to get information about completed results back from a GPU; on PCs you almost certainly can't get that info during the same frame you are rendering, unless you are rendering tremendously slowly.
In order to make an estimate about whether the frame is going to be done in time, you would have to guess. Okay, then, so now you decided to stop rendering this frame, what do you do? Leave a giant hole in the scene? Turn off the postprocess? Draw low-detail versions of some things (hint: still very slow)?
Your program does not even really know for sure which pieces of the scene are fast to render and which are slow. It does not know if specific textures are going to be paged out of VRAM by the time you get to a specific mesh, or not. etc etc