Are you prepared to commit if they offer more?
If not, they have very little incentive to do so, and they rarely negotiate merit these days.
As @NiceUnparticularMan explained in a long post above, Pitt likely uses a sophisticated enrollment management tool to determine for which students certain levels of merit may be effective in moving the dial so that the student enrolls. In your student’s case, their calculations may well show that no amount of aid usually sways applicants with your student’s profile.
If Pitt is your student’s #1 choice and more merit will mean they will commit, then it is worth asking. It’s early enough in the cycle that they might have wiggle room. There is no formal appeal process, but your student could call/email…but they need to be prepared to honestly say that Pitt is their #1 choice and they will commit with more merit.