I'm actually finishing up an Electrical Engineering degree right now and already have a CS degree, but even then, entry level is difficult to break into for hardware.
Plus the remote work options are far less which sucks. I mean if you need a homelab to work remote, that still ain't as flexible as only needing a laptop to do 100% of the work from any location in the world (now with all the smart goggles you can take a multi-monitor set-up on the go). Plus many job sites for hardware are only in specific locations as well which kills more options. I'm over that in-office shyt so already there are fewer jobs available for that field that'd I'd want to work already.
Additionally, to be honest hardware don't pay as high as pure software does for most cases. I met a few embedded cats making $150k-$200k (I spend some time in San Diego so Qualcomm is right there), but I met a software cat a couple months back making $700k (and fully remote). I'm sure they're out there, but I see it far less common for normal hardware engineers to be raking that in consistently. I know of another Front End engineer making over $500k working for a non-tech company.
All this together means someone can get a high-paying job and live somewhere with LCOL doing pure software, whereas many hardware fields are stuck with HCOL options. I know you can get pure software roles with other degrees, but it's still harder than having a CS degree. It still feels like electrical and hardware still carries dinosaur work culture with it. So working that field is kind of tough as you're in-between two points: either competing with CS majors for software roles or having to fall back to doing work in dinosaur culture. Every now and then you can land a gem like a remote hardware job with a forward-thinking company, but that's far from the standard like software is.
Plus a lot of the cutting edge hardware is really done by the PhD Physics researchers really. They probably got the most secure jobs which is funny considering how limiting only having a BS Physics is.