I think its just not limited to nose. I also heard this for tall men that they are ‘be-aqal’. Someone quoted me a hadees (which I’m sure is unauthentic) that all tall men lacks wisdom except Omar (the second caliph).
Then there is something I heard from my Punjabi friends ‘sir wada sardar da, paon wada chamaar da’ type stuff.
Then that old myth ‘neeli aankhon wale bewafa hote hain’.