Any input on what could be going on would be really appreciated @Brando may be? as you get a lot of those bug thread recently it might be already a known issue.
Thanks for posting about this issue and for including all of these details!
I’ve not been able to reproduce this on my end in a new site. Is this happening in multiple sites, or only one? Can you please share your Read-Only link?
Based off the GIF, this looks like a new bug as I’ve not seen this before.
I’ll definitely get this reported to the team so we can dig into this more.