Massive Galaxies Form Early and Gray: Stellar Assembly and Dust Attenuation at $\mathbf{z>3.5}$ from CAPERS

Abstract: The stellar mass assembly of massive galaxies in the first few billion years of cosmic history remains a central challenge in galaxy formation. Galaxies with $M_\star \gtrsim 10<sup>{10}M_\odot$ observed at $z \gtrsim 4$ must grow rapidly under conditions of intense gas accretion, feedback, and dust production. Observationally, their star-formation histories (SFHs) have been poorly constrained due to degeneracies inherent to broadband photometry. The advent of JWST enables direct spectroscopic access to detailed continuum shapes and rest-frame optical diagnostics at high redshift, providing a critical opportunity to reconstruct formation timescales of massive early galaxies. Here, we investigate massive galaxies using joint spectro-photometric SED fitting of JWST/NIRSpec prism spectroscopy from the CANDELS-Area Prism Epoch of Reionization Survey (CAPERS). Our sample comprises 148 galaxies selected photometrically with log $(M_\star/M_\odot) &gt; 9.5$ at $z &gt; 3.5$. We find that the most massive galaxies (log $(M_\star/M_\odot) &gt; 10.5$) preferentially exhibit shallow, gray dust attenuation curves, consistent with higher dust optical depths and large grain sizes. We also find significant diversity in the time at which galaxies form 25% of their stellar mass. While formation timescales converge toward later cosmic times, galaxies with lower sSFR ($\lesssim -9$) at the observation epoch formed significantly earlier than systems with higher sSFRs. Across the full mass range, inferred assembly times are systematically earlier than model predictions, suggesting more rapid early growth than currently captured theoretically. These results underscore the importance of spectroscopic constraints and flexible SFH and dust models for reconstructing high-redshift massive galaxy formation histories.