TPS2492 Datasheet, Page 8, says "If ID < ID_ALLOWED, the amplifier turns the gate of M1 full on because there is no overload condition; otherwise GATE is regulated to maintain the ID = ID_ALLOWED relationship."
ID_ALLOWED corresponds to 50mV of (VCC - SENSE) at low VDS, and < 50mV with power limiting trip.
But it seems ID can go much larger than 50mV at short circuit, is it because ID is "rapidly rising" and the regulation can not respond on time?