No option available to allow ipv4 in iPhone hotspot when you are using jio true 5G, because its bases on cellular network. I too had this same issue. Even customer care not aware about this problem.
Change 5G to LTE, then if you connect hotspot again will see ipv4 assigned.
In my case, I am trying to connect mac m1 to iPhone 15 plus.
I did other way, i took my sim and inserted in 4G device. When i insert the sim back unable to get 5G, but assigned ipv4 in 4G when i check macbook.
I copied router, subnetmask, ip and dns. Later i reached customer care to enable 5G again.
Then checking that ipv4 not assigned after enable 5G. But this time I change DHCP to manual and replaced router, subnet, ip and dns that i copied before. finally it’s working fine with manually assigned ipv4.
remember that you have to remove these manual entries when you are connecting your device to any other router or hotspot.
I wrote a shell script to replace this entries quickly for me.