If you have a strong requirement to avoid failure, proactive replacement let's you optimize the unit cost of replacement because you can fully utilize the crews and have no wastage.
If you dispatch reactively, you either have people sitting around waiting for light bulbs to burn out or lightbulb replacement pulls crews off of other work, impacting schedules.
The key assumption is you want low/no downtime. The problem you have is negotiating SLA penalties are difficult to get right for organizations like cities and getting good metrics are tough.
The other thing, especially with government contracting where RFPs are extremely difficult to change after the fact without getting contracts disputed by the losers is that the contractor will add risk premiums for penalties.
As things move to LEDs it hardly matters anyway, a correctly engineered LED lamp doesn't suddenly fail like filament lamps, it just gets sort of dim gradually, so a regular schedule (e.g. replace all the LED lamps every 5 years) is the correct way to deal with it. Cheap consumer-grade LED modules sometimes fail suddenly due to over-heating or badly made electricals but the road maintenance people probably aren't buying unlabelled stuff off eBay so they're unlikely to have that problem.
So if one fails, a bulb burns out, one gets destroyed in a storm, or anything else happens, there will be at least one full backup.