In Dynamic Bone, the root of the branched part is also physically calculated and moved. (The root bone itself does not move, but the bones beyond it behave as if the root bone bends.)
In PhysBone, the root bone of the branched part is completely fixed.
If you prepare as many PhysBone components as the number of branches with other branches disabled, you can get the desired behavior, but it will be inconvenient, so please make the branched roots move as well.