I work on highly concurrent backends that handle 100k requests per second across a cluster, and PHP will never work in those situations. Any time you have to orchestrate multiple data store or service calls in the background, you don't want to block.
Callbacks are not how you do non-blocking IO. You typically have multiple threads and use constructs like futures or promises to make them easy to manage.
PHP bakes you into a very simple request flow. There's so much more you can build if you get out of that manner of thinking.
Yes, I never disagreed with that, best tool for the job. But your problem is not the usual stuff that web projects are about.
Edit: FYI I have experience with other languages too, so if at my work I use PHP does not imply that I am some inexperienced person that has no idea how other languages work. I do not have experience with your domain of high concurrency, low latency stuff but I worked with threads, and thread pools and multi-processes programs(it happened that some thread would segfault and bring the app down so we had to use background processes instead of threads) .
Callbacks are not how you do non-blocking IO. You typically have multiple threads and use constructs like futures or promises to make them easy to manage.
PHP bakes you into a very simple request flow. There's so much more you can build if you get out of that manner of thinking.