Doesn't change with the age of the baby, as in salmonella can be life threatening at 5 days or 9 months. Not the age of the bottle.
Actually it kind of does, a bigger & more mature gut with more gut flora to kill off foreign bacteria faster does make a difference (it is load rather than contact, that causes poisoning) ... younger the child the smaller the numbers of bacteria needed to cause an infection, simply because there isn't the gut flora there.
That isn't to say Sterilisation should stop, but the risks are greater in a bottle fed baby if doesn't take place before solids are introduced because the gut is far more immature & the ability to deal with any bacteria is minimal.
Basically sterilising will significantly reduce the number of bacteria present, but it will not be 100% foolproof & the longer a bottle is at room temperature the more any bacteria will multiply, if it is warmed to 37 then bacteria multiply even faster... because a small baby takes longer to drink its milk & it is generally at a warmer temperature (37C) the risks are far greater at say 30mins in non-sterile formula there could be enough bacteria to cause a problem, where as a 9mo drinking a bottle at room temp (22C) in 10mins will have had much less chance for any bacteria present to multiply... but at the end of the day it is better to sterilise bottles than not.