Quoted from Goalie:

The ESRB and Pegi don't make you remove anything. You can have those things in game, but they will give you a Mature rating and descriptors. Which can be bad for sales if you're selling a family friendly game. It would also prevent the game from showing up in online stores if someone's PS4/X1 has parental controls set for kids. Risque artwork would be ok to show skin, just not nudity as that would also trigger a Mature rating.

Quoted from Goalie:

That's not going to happen. Basically setting up 2 different in game stores, there's no way they're going to do that. Not to mention they would have to pay royalties for setting up a second game.

Quoted from Goalie:

No that’s not how it works. You pay your per game royalty but you also pay expensive upfront fees for the right to put games on platforms. You also pay maintenance fees per title.

Quoted from Goalie:

That is correct, they paid to have a second Sku. it's not logic it's the way it is. It's what I do for a living.

Quoted from Goalie:

Why in the world would a small publisher pay double upfront fees just so they can have an uncensored version of game where the changes are so minor? There would never be enough of a sales difference to make up that cash sink and make a good enough profit.