I did a little check on the frequency of real life bunt-for-hit plays in 1960 compared to what I was getting in my league. A bit time-consuming, so I could only check 20 games. I may try to keep track of this manually going forward, but having looked at this season in detail a couple of times already, I think what I am looking at is tolerably representative.
IRL, there was one bunt-for-hit attempt (from one team or the other) roughly every 2-3 games (this is exactly the sort of metric I like to help me figure out if I'm getting authentic gameplay

). It's difficult to be perfectly precise because you can't always be certain what the intent was related to a bunt with men on base. If you see a player who is known to bunt-for-hit with no one on base, and he bunts with a man on, how do you know he was sac bunting? I assume that OOTP always looks to the sac bunt rating in any sac bunt opportunity, but if so this is probably too constrained to be realistic.
I am getting a frequency in my league that is slightly higher than this, but I have been tweaking the relevant settings, so I will see what it looks like going forward.
Side note: in the sample from real games I looked at, a position player bunted with a man on 2nd, 2 outs. I counted that as a bunt-for-hit. However, I suspect I will never see a play like that in OOTP, no matter what I might modify, because of the combination of a man on base and 2 outs. Oh, well.