From an outsider's perspective, it feels like Ocaml has more active development of features, between the new effects system they added in 5 and all the work Janestreet is doing to let Ocaml developers have more control over performance.

F# is not stagnant thankfully, it gets updates with each new version of dotnet (though I haven't checked what is coming with dotnet 10), but I don't recall anything on the level of the above Ocaml changes in years.