A tighter/narrower field of view can give the impression of being more cinematic and immersive. In film, 63 degrees is already considered "
wide angle." The FOVs you've been talking about are much wider, which, at least in my opinion, makes them seem a little bit more flat and fake looking (which could just be due to my conditioning from film.) In my own experience, narrowing the field of view can help you feel like you're really "there." Obviously there's a trade off: a narrower FOV can prevent you from seeing game-critical information: that's why you're more likely to see a narrow FOV in a survival horror game (where the player character is supposed to have limited abilities.)
Third person games create unique difficulties because you have to deal with camera collision. You can make a third person game look really cool by narrowing the FOV and dollying the camera back to compensate. This helps to create a sense of immediacy, and still lets you see a lot of what you need to see. The problem is now the camera's location in physical space is very far back from your character, which starts creating huge problems when you are in a tight interior and the camera needs to avoid clipping through walls.
Something to think about with FOV's is that it isn't just about the field of view, it's about the
sense of depth. Obviously if you're playing a fast paced, competitive FPS, being able to see as much critical information as possible may be your top priority, but in other types of games the developer may have other concerns.