You get raises in this industry by changing companies. Nobody will ever give you more than a few percentage points as part of a standard end-of-year review.

It sounds like you might not have known this before, so at least now you do. It doesn't help to complain about it to your manager. They know what they are doing. And they'll know why you left when you do.

If you are better now than you were when you started, then it might be time to start interviewing. Take a new gig that pays more. Repeat every couple years until your market value is where it needs to be.

It's a sad state of affairs, but in absence of any way to change it, the best thing to do is act accordingly.