For the resulting sequence that arises from the object-like macro, [cpp.replace.general] p10 explicitly says

The replacement list is then rescanned for more macro names as specified below.

However, we didn't explicitly mention rescan for the resulting sequence replacement list that arises from the function-like macro invocation. This is inconsistent.

[cpp.replace.cpp.subst] p4 implies that we should explicitly mention rescanning for the resulting sequence of a function-like macro invocation.

Otherwise, the argument consists of the results of the expansion of the contained pp-tokens as the replacement list of the current function-like macro before removal of placemarker tokens, rescanning, and further replacement.

Similar to [cpp.replace.general] p10, we should use a similar utterance in [cpp.replace.general] p12.

After the argument substitution has taken place([cpp.subs]), the resulting replacement list is then rescanned for more macro names as specified in [cpp.rescan].