Photometric Objects Around Cosmic Webs (PAC) Delineated in a Spectroscopic Survey. VIII. Revisiting the Lensing is Low Effect

The issue of over-predicting the galaxy-galaxy lensing (GGL) signal using conventional galaxy-halo connection models has become well-known as the ``Lensing is Low'' problem, which has been extensively investigated using the Baryon Oscillation Spectroscopic Survey (BOSS) galaxy samples. This issue is also tightly related to the so-called $S_8$ tension. By applying our Photometric objects Around Cosmic webs (PAC) method to the BOSS survey and the DESI deep photometric survey, we obtained hundreds of cross-correlation measurements to establish an accurate galaxy-halo connection for BOSS galaxies through the halo abundance matching technique (Paper IV). With this galaxy-halo connection, we show in this work that the predicted GGL signals for BOSS galaxies both in the Planck and WMAP Universes actually agree very well with the GGL measurements. We find the best-fitting value $S_8 = 0.8294 \pm 0.0110$, $0.8073 \pm 0.0372$ and $0.8189 \pm 0.0440$ for the CMASS samples with the source galaxies from HSC, DES and KiDS image surveys, respectively. Our work indicates that accurate modeling of the lens population is so critical to interpret the GGL observation. For the scale of $r_p < 0.6\,h^{-1}\rm{Mpc}$, our GGL prediction for LOWZ samples are also in good agreement with the observations of HSC and DES. However, the GGL observation of KiDS is much lower on the small scale. Our results indicate that no significant baryon feedback is needed to suppress the small scale clustering unless the the GGL observation of KiDS on the small scale will be confirmed.