At some schools the coach may have a limited number of slots for a particular school or major. I don’t know about Penn specifically, but it wouldn’t surprise me if a coach got X slots to use, but they are capped for Wharton. Like maybe max 2 Wharton out of 10 total.
I don’t know specifically about Penn, but I do know that some other schools have a similar system in place. And as @Mwfan1921 said, some coaches just don’t allow some majors, either because of the total time commitment or the timing of the commitments. It didn’t matter to us, but at one school S was told he could major in anything except Architecture, because the schedule of required labs essentially meant you could never practice with the team. He was told that he could do engineering if he really wanted to, but that the coach didn’t usually think it was a good idea unless he had a higher ACT and GPA than what he had earned in HS.