Hmmmm. I thought if you lift a player past Horizontal it's a penalty now. If you drop them on head and shoulders it's a yellow
It might appear that way, but there is more nuance. This is the law
9.18 A player must not lift an opponent off the ground and drop or drive that player so that their head and/or upper body make contact with the ground.
In practice:
Lift above horizontal, lands on side/ lower back - YC
Lift above horizontal, lands on shoulder/ neck head - RC
A lifting tackle that doesn't meet that criteria above but is still awkward/ dangerous for those involved - PK (but this would technically be law 9.13)
So yes, a lift past horizontal is still technically legal if they land safely, as per the above.
If you were to lift a player into a dangerous position, but them safely revert them back to their feet - I think most referees would (should) let that play.