Until AVX512 we don't have any vector truncation instructions, and always lower using shuffles instead.
combineVectorTruncation performs this earlier than lowering as it makes it easier to use any sign/zero-extended bits in the truncated bits with PACKSS/PACKUS to perform the shuffle.
We currently don't attempt to use combineVectorTruncation on AVX2 targets as in the past 256-bit PACKSS/PACKUS tended to cause 128-bit lane shuffle regressions - but these should now be all resolved with combineHorizOpWithShuffle and in all cases we now reduce the amount of cross-lane shuffling and variable shuffle mask usage.
This will be fixed by D96413