In general, and regardless of which teams it involves, referees are reluctant to call a foul on a play like that at the end of the game. I wouldn't be surprised if Geno told them during the last timeout that if Baylor gets a good opportunity close-in, defend it as aggressively as possible and don't worry about a foul call.
The refs wouldn't have made that call if the uniforms had been reversed, i.e., if it were UConn attempting a shot and Baylor defending. Nor should they, in my opinion.
It's the famous practice of "swallowing the whistle" so that the ref doesn't decide the game on a debatable call. If the refs had made that call in that situation (earlier in the game is different), they probably would have been downgraded by whoever evaluates tournament referees.
I remember a similar situation in a Notre Dame - Mississippi State tournament game a few years ago (2018?). Marina Mabrey arguably fouled a Miss State player at the end of the game after having the ball stolen, but no call was made. There were a lot of complaints on the Boneyard about that, but it's another example of the same thing.