Here are two potential workarounds:

Since the setting is per tenant, you could place applications that require different code lifetimes into separate tenants. Note that this means users and configuration will be isolated per tenant, so carefully evaluate whether this trade-off fits your architecture.

You can implement custom code expiration logic by using the passwordless API directly:

With this approach, the tenant-level TTL acts as the maximum lifetime, but your application logic can enforce shorter, application-specific expirations as needed.

This is not a built-in FusionAuth feature, so if per-application passwordless code TTL is important to your use case, consider submitting a feature request on the FusionAuth GitHub issues page.