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There’s a few likely reasons:
He doesn’t want to stop being president, and needs time to wrap things up (especially if he was planning on another term).
Kamala would be forbidden from seeking another term in 5 years.
There’s nothing meaningful Kamala could achieve as a brand new POTUS between now and next January with an uncertain election in the air.
It’s a lot more difficult to take over your boss’ job and successfully go through the recruitment process at the same time, than it is for your boss to stay in role while you apply for the job.
Muc-ed-off
Why isn't he stepping down now and letting Kamala run from the position of president?