I tend to agree that lower velocities can cause a given bullet to penetrate deeper, not higher velocities. That's because a given bullet may well expand wider when impacted at a higher velocity or even come apart.
But I've seen exceptions of this too. The Nosler Partition, for instance, tends to penetrate very deeply if the impact velocity is so high it's petals are folded back against the shank or sheared off altogether.
So, it depends on the bullet.
I'm not a big fan of most bonded bullets because I favor penetration over wide expansion. But, even here, there are exceptions. For the first time in many years I just bought three boxes of factory premium ammo for hunting. That's because I've got a raging case of the hots for the Federal Tipped Throphy Bonded bullet. E