There doesn't appear to be a standard.
https://postmarkapp.com/guides/password-reset-email-best-practices has a password email reset guide that includes this information:
If the link expires—and it should—include a sentence to let the
recipient know that it expires and how long until the link expires.
And, for convenience, include a direct link to where they can initiate
another password reset request if the link has expired.
Well-engineered password reset processes will automatically expire or
invalidate the password reset URL after a period of time. In some
cases, the expiration window may be aggressive, and it’s possible the
link will expire before the recipient has an opportunity to check
their email and reset their password. So it’s important to clearly
communicate both the fact that the link expires as well as when the
link will expire.
I think it depends on the use case. If someone is reseting their password and wants access right then, a shorter expiration time would make sense.
If someone is sending password reset emails that may or may not be used immediately, a longer reset time would be useful to the user.