Like many of the new onerous regulations, it puts a moat around those with substantial resources - a company with a legal team is probably okay and can handle risk and overhead here, but sole proprietorship is under a lot of duress to provide 5 years of support.
At least with the GDPR there is a carve out for small operations with less than XX income before liability skyrockets, but with this regulation, it seems to be saying, “individuals are irresponsible and should not participate in the software market”.