Thanks for looking into this.
Just upgraded to Win 11 a couple of days ago. Version number
Windows 11 21H2 (OS Build 22000.856)
Start11 v1.25
I think its purely a layout issue. If I drag the taskbar height to 2 rows, I see the problem in the system tray. If I drag it back to 1 row height, the problem disappears. Rinse, repeat..
Restarting Win Explorer doesnt fix the issue.