You’ve done all the hard work. You are set up on approach - a nice runway ahead.
Unless you are in a Cat111 situation (and in some a/c even then) it makes sense to adjust flaps and speed and get down.
If you GA you throw away the expedient landing opportunity, perform an engine out GA, with possible further complications (fire?) perform the abnormal / Emer procedures and briefings and burn some fuel and line up all over again to get back to where you were 25 minutes or more before.
Thats the theory. Who knows what is going on in someone else’s case?