I truly dont know how the ratings have changed, but I do know for a fact they have strictly due to the lighter frames and body's of modern cars.
After the emissions and unleaded gas requirements manufacturers made engines with lower compression and released numbers that did include exhaust manifold etc - meaning cars appeared to “lose” anywhere from 30-100hp. The fact was they didn’t really “lose” any hp……the numbers were inflated b/c the customer never realized the advertised hp/tq because when they bought the car….they bought a car (that had a transmission, differentials, manifolds, etc) and not just an engine.
The math never changed, 1hp still = 1hp from 50 years ago. How the companies record and report hp changed. A 2022 Scatpack Charger puts out way more hp than 1970 440 6 pack Charger, and yes, way more than a 426 Hemi.
If you want to do a true test - throw the cars on a dyno and test the power to the wheels. General rule of thumb for a gas vehicle is you “lose” about 20% hp from the engine through the drivetrain, to the rear wheels.