Formal methods may work for civil engineering where the usual workflow is gathering requirements, developing a detailed project and building the thing, with the implicit understanding that any little change will mean recalculating costs and deadlines. When your customer decides to pivot the fintech app you were developing into a cryptocurrency investment tool, it makes no sense.
Formal methods come from a need for form, repeatability. There is nothing in software development that comes close to the process and considerations that go into choosing to build with M30 concrete, or use #5 rebar for that matter.
There are plenty of places inside of software that are pure-innovation and can't use a formal process to design and implement, but there are also plenty of places where a corporation just wants a website that does customer loyalty, and you often don't need any innovation at all.