It's in the EULA for every piece of software, including physical.
If it wasn't, then buying a single copy would legally allow you to sell an infinite amount of copies.
Because that's what actually owning software means.
And video games are software.
PlayStation:
The Software is licensed to you, not sold
Windows 95:
The software product is licensed, not sold
https://www.scribd.com/document/478767349/Windows-95-License-Agreement
I know it's a joke no one ever read them...
But you all really never knew this?
Edit:
Don't make me wheel out the 1980s CRT TV for the class...
https://www.youtube.com/watch?v=up863eQKGUI
There's always been freeware and shareware (yes, they're different) but if you as an individual paid money for software at any point, you've never owned it.
Businesses can't even justify the expense of "owning" basic stuff like Microsoft Office and collectively spend billions. "Owning" software is fucking expensive, and usually means you coded it.