Even if Yu Zhenzi had mentioned this discovery earlier, there would have been no need for so many disputes, no need for bets, no need for probing—Pang Hong would have definitely supported Yu Zhenzi's decision.
The existence of the Jade Emperor is to maintain the balance of the entire Heavenly Court's situation, for the development of the Divine Land World, and even to put it unpleasantly, is to let the opponent become a tool person for many True Immortals and Taoist Monarchs in the future.
Even though Pang Hong dislikes the Jade Emperor and is dissatisfied with his actions, because of the position the Jade Emperor holds, Pang Hong has no qualification to shake him and can only suppress him to a certain extent.
However, all this is based on the premise that the Jade Emperor, although ambitious, does not qualify to threaten the interests of the True Immortal Taoist Monarchs.