Do minor cuts and scrapes objectively hurt more, or less, as you get older? Why is this so? Is this a known phenomenon, are there studies? Example: Does a paper cut hurt more, or less, at age 60 than at age 30? Could there always be a correlation with peripheral arterial disease? Any other factors?

Yes, it is widely known that even minor cuts take longer to heal and can be more serious as we age. The question is about experiencing or measuring pain.
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@afreytes
As a first aid instructor, I can say that our epidermis (outer layer of our skin) gets thinner as we age, so a similar cut in our 60s and 70s will be more detrimental to us as it was in out 20s and 30s.