1. Memory safety issues not found in testing do not lurk as exploitable vulnerabilities; testing is never perfect, often far from it when it comes to edge/unexpected cases where vulnerabilities lurk (though fuzzing can help somewhat)
2. Sandboxing still needs some kind of isolation primitive, which CHERI can provide in place of the heavyweight MMU-based techniques that exist today
Plus let's not kid ourselves that all software is being tested with sanitisers. The vast majority of software running on your system probably is not.