The reason relates to the two tickets being procured separately - what you describe would work if you bought two tickets at the same time (cash, points, funds, voucher, etc). Since companion ticket is added separately it gets a separate confirmation number. I believe Southwest is working on this issue for check-in at the same time or to award sequential boarding positions. As far as seeing the pass I suggest keep your own in the app and login your companion on mobile web to show the boarding pass and also recommend adding it to the wallet before you leave for the airport in case of connectivity issues.
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