With emphasis on modern. Round ball became popular for rifled muzzleloaders because the hoops to make it work are easier to jump through. If you're gonna make some other form of projectile work you've got other hoops to jump through. Folks invented faster twists and longer bullets to shoot accurately further and ran into a whole new assortment of opportunities to exercise their problem solving skills. One of the things that slapped them right in the forehead was that to make long bullets shoot good you needed a close fitting bullet that expanded to the bore and grooves. That required that the inertia of the bullet resisted forward motion and produced bulging of it's sides to engage the rifling and seal the bore against gas cutting of the bullet. So, minimizing how much it had to bulge was good.
Also, if the bullet wasn't pretty long it wasn't necessarily going to have it's flat little bottom perpendicular to the bore after all that expanding had been going on. And, if it was light weight to start with the inertia factor was small, so you had to smack it with a huge slap of pressure to get it to expand into the rifling.
Now, think about a typical pistol bullet. It's pretty short. Even if you pour it from pure soft lead it's got none of the characteristics most favorable to success. With the right rifling geometry it can work. But, it's not easy. And I won't get into the stingy little bitty lube grooves on most modern pistol bullet molds and how more is better in longer barrels except to say that a maxi mold tells the tale.