SLJIT is a bit smarter than just to use hardcoded registers. It's multi-platform anyway, so it uses registers when they are available on the target platform, if not it will use memory, that's why performance can differ between Windows and Linux on x64 for example - different number of available registers.
Indeed, but this also means that you would get drastically different performance on platforms that have more physical registers vs on platforms that have less. For example x86_64 only has 16 GP registers, while AArch64 has 32 - if you use 25 registers without any analysis and just go to stack with 10 of them, the difference could be huge.
But... I consider SLJIT to be for a different use-case than AsmJit. It's more portable, but its scope is much more limited.