You really don't want the battery to change its voltage rapidly whether charging or discharging.
You hope it changes slowly and it usually does unless very very high current rates in or out present.
It take a some time to get to peak charge, and you may never see it with some measurement devices, as it samples what it is testing in intervals. If the Vreg is switching back and forth between full charge and half charge, due to loads on the system, you will only measure some average voltage based on the sample rates of the meter.
If you want to see 14.5 v peaks you may either have to use an oscilloscope, or remove all loads for the system and hold the RPM at 5000 RPM and wait for the battery to reach full surcharge.
13.8 V is a good average to maintain a fully charged battery under use. When charging a depleted battery, the input current usually continues until 14.5 V is reached, then the charger current is decreased.
To be nice to the battery, the charge voltage should creep up slowly to that 14.5V, as this allows all the electrolyte to get full charged not just the electrolyte near the plates.
Cheers,