Without something similar to a union or a change in laws to better incentivize pay raises, I don't see a great way out of this :/
I'd say my company is "grey-hair-friendly", but they're still hiring for way more junior roles than senior roles. I'm not sure if there are companies that explicitly don't hire junior engineers, but then you'd at least be competing against other people looking for the same salary range. Working with a recruiter might also be a good idea if they can help find companies that would be a good match