Jim, that’s an easy question, I probably have a dumb answer

The turn signal flasher uses load from the bulbs to generate the flashing action so it stops flashing or gets very slow when a bulb burns out you know it is happened. LED’s draw less energy so the old school flasher doesn’t work, that’s why if you add a resistor in line with and LED it will flash. It’s just so you have an analog computer telling you a bulb out like open up on the screen in a modern car.
The hazard flasher is self loading, it will flash if it is no bulbs in the circuit or 20, it doesn’t care, it just flashes. On the hazard there is no need for it to do a load check to warn you of a vehicle issue, it just needs to flash.
On vehicles without a second flasher for the hazards, they typically have a computer monitoring bulbs and use a self loaded flasher.
I said it would be a dumb answer, well not really dumb, just some old school, low tech vehicle condition monitoring.