Earlier quoted context omitted.
Needlessly upgrading all of your packages leaves you open to supply chain attacks. If one of those NPM packages got quietly compromised (and my lockfile likely has 4-to-5 digits worth of dependencies in it), you invested time in making what amounts to an unneeded change to expose yourself.
Any bit of software can have a very nasty vulnerability (looking at you, log4j). Leaving your software pinned to old versions exposes you to existing undiscovered CVEs. This is a pick your poison circumstance.
IMHO a reasonable compromise is to watch for discovered CVEs and update your dependencies when appropriate, but keep them pinned if no known CVEs apply.