Apple added a feature called "inactivity reboot" in iOS 18.1. This is implemented in keybagd and the AppleSEPKeyStore kernel extension. It seems to have nothing to do with phone/wireless network state. Keystore is used when unlocking the device. So if you don't unlock your iPhone for a while... it will reboot!

In the news: "Police Freak Out at iPhones Mysteriously Rebooting Themselves, Locking Cops Out"
https://www.404media.co/police-freak-out-at-iphones-mysteriously-rebooting-themselves-locking-cops-out/

iOS version diffs to see yourself:
https://github.com/search?q=repo%3Ablacktop%2Fipsw-diffs%20inactivity_reboot&type=code

Police Freak Out at iPhones Mysteriously Rebooting Themselves, Locking Cops Out

Law enforcement believe the activity, which makes it harder to then unlock the phones, may be due to a potential update in iOS 18 which tells nearby iPhones to reboot if they have not been in contact with a cellular network for some time, according to a document obtained by 404 Media.

404 Media

There's a new article with more details on when the new inactivity reboot is triggered on iOS 18:
https://www.404media.co/apple-quietly-introduced-iphone-reboot-code-which-is-locking-out-cops/

This is a cheap & great mitigation! While most people won't have their phone forensically analyzed, many more will have their devices stolen. It protects user data in both cases.

Apple Quietly Introduced iPhone Reboot Code Which is Locking Out Cops

On Thursday 404 Media reported that police were freaking out about mysteriously rebooting iPhones. Now multiple experts have found that Apple introduced code that reboots locked phones after a period of time.

404 Media