Best guess, a Blu-ray disk, along with the Blu-ray player, restricts what audio that can be sent thru S/PDIF (optical or coaxial) output, where as the older DVD disk does not have those restrictions.
DVDs and S/PDIF came out long before serious copyright protection was used for disks.
So when a Blu-ray disk is inserted into the player, the player detects it as a Blu-ray and restricts what audio from that disk is sent thru S/PDIF (optical or coaxial).
Your player is telling you (the display) the Blu-ray disk has 24-bit/96k audio tracks, so it's be truthful what there, but still limits S/PDIF output.
Modern HDMI is designed for copy protection, so it's ok to send the Blu-ray disk's 24-bit/96k audio or even 24-bit/192k thru HDMI.
But I'm not the expert, just my best guess.