One byte can carry more than one field when the bit widths are fixed. The split is compact, and the low nibble can change the header length.
highlighted = computed this step
Why split a byte
A nibble split is compact: one byte can carry two small fields. The diagram tiles the same byte into a high nibble and a low nibble.
fields in byte=2
High nibble and low nibble
The high nibble is version 4. The low nibble is IHL 5.
4∣5
IHL counts words
IHL 5 means 5 words, and each word is 4 bytes, so the header is 20 bytes.
5×4=20
Decode it again
With 0x46, version is still 4, but IHL is 6. That makes 6 words times 4 bytes, or 24 bytes. IHL is not always 5; this example has options.
6×4=24
Summary
The version nibble and IHL nibble share one byte because their widths are fixed. Byte layout only; timing/throughput is not modeled here. Timing/throughput is not modeled here — only the exact byte layout.