Some countries have that norm, but in the United States, PE licensing is fairly unusual, due to rules allowing corporations to have one PE sign off on the work of a lot of engineers. As a result, even in the case of critical medical equipment, most of the real engineers who scoped, designed, and tested the product are not PEs.

Often the PE is more of a lawyer than an engineer. They typically do have an engineering degree, but are years out from any hands-on engineering work. They do final legal sign-off, and are knowledgeable about statutes and insurance policies, but rely on people with more recent technical experience to do any technical work.