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.
Oh yeah I love f#, I need to find more excuses to use it. I just wish it felt like MS was willing to invest more into it. But at least they have not abandoned it and continue to put some resources into its ongoing growth.