How to Turn off "Required Passcode: Immediately" on iPhone 12?

Is there a way to set the the required passcode/FaceID unlock timer to be 4-hours like on the iPhone 10? I'm fairly tech savvy and haven't figured out how to change the required passcode timer to be anything other than "Immediately" (By disabling Face-ID for apple pay etc...).

I've turned off my passcode completely since I find it very annoying having to unlock my phone every time I use it.

FYI @ Apple - heavy handed extra security isn't effective if it forces users into an all-or-non position -_-