Mold for sand casting is easily done in lathe (turning a wood on lathe for precise shape is faster and more accurate than sawing).
So as one of the parent comment mentions - it is round because of production reasons.
[Edit in response to a question]
Some people have attempted to steal manhole covers in order to sell them for scrap metal. China Daily notes that there has also been a problem with taxi drivers removing manhole covers to "steal water and clean their vehicles". https://www.bbc.com/news/blogs-news-from-elsewhere-52400235
On the other hand, copper is $3/lb, brass $2/lb, aluminum is $0.50/lb
So, most probably the shape of the cast iron cover (circular), drove the shape of mouth of the hole.
https://longnow.org/essays/richard-feynman-connection-machin...
I'm guessing Feynman would've had a much better chance getting hired at old Microsoft, than through the current FAANG/wannabe interview process.