Let's start with your last question first.
Also, would this be considered normal under warranty, meaning Apple wouldn’t replace the battery?
Apple will not replace the battery unless the Maximum Capacity drops to under 80% in the first 12 months of ownership.
Is it normal for my iPhone 15 battery to be at 94% health after 10 months and 280 cycles?
Yes
It dropped 5% in the last 3 months – should I be worried?
No, it might not drop at all in the next 2-3 months. Battery decline is not linear. I've seen my battery drop 2% in less than a week, then it doesn't decline at all for 2 months after that.
Think long term. You will probably get about 2 more years of use on your battery before it drops below 80%......at which time you would want to replace the battery.
You don't need to babysit the battery, and it won't help if you try. The battery is going to do what it will do. You'll just worry needlessly if you are checking the battery all the time.
Charge Limits? Personally, I think they are more of a gimmick than anything else, but that might be another discussion.