483 ran out of flue time under the old rules and was set aside. As both Hank and Kelly have noted, it was a matter of what engine could be put into service for the least cost at the time.
A determining factor in the earlier years of the C&TS was the condition of the driver tires and driving boxes. Until the new shop was completed and ready for use in 1979, there was no drop pit in Chama and any sort of repair that required dropping drivers was out of the question. 487 and 488 both had good drivers and the boilers needed only to be re-tubed. They were selected for service over 483, which has worn driver tires.
There are no deep disasters lurking in the 483 (that we are aware of) that prohibit its return to service. It's only money......