Also the vast majority of PMs likely do not need to be encrypted as they only contain casual conversation and/or casual business that realistically no one would case about if they were able to intercept.
On a 2nd though I guess you could have a field for a public PGP key that would automatically encrypt messages and the receipt would need to manually copy/paste the message to decrypt, however this would still involve encryption on the server side which is still much less secure then encryption on the client side.
It can be encrypted via Javascript on the client (browser) just before sending the data.
It doesn't need to be encrypted server-side.
I would also not personally want some 3rd party software encrypting my messages (automatically or not). If the forum were to get hacked and the hack does not get noticed then an attacker could potentially modify the software to also encrypt messages to they PGP key.
I think it would cause unnecessary work for when information that is not at all sensitive is being sent, for example that the seller of a transaction received payment.