This issue doesn't really bother me as I figured out a workaround but I figured I'd report it.

I'm currently on the trial for Fences 5 and I was trying to delete a fence and couldn't figure out how. The normal 'right-click in fence' process didn't do anything other than give me a Rename Fence option. Right clicking in the top area of the fence (where'd you'd grab the fence to move it) did nothing.

I enabled headers and then right clicking the header pops up the expected menu with ability to delete the fence. Did that and disabled headers again, problem solved. Since I was curious though I created a new fence and tried again and it's the same behavior. However, this time I noticed that when right-clicking in where the header would be, the menu pops up all the way in the top left of my left monitor (the fence is on my middle monitor out of a set of 3).

Right-click in center of fence:

Right-click in header area of fence (I moved the fence to the left monitor to make the screenshot easier):

Not sure what info is most helpful for repro, but I'm on Win10 22H2 19045.3930, 3 monitor setup at 2560x1440 across all, Fences 5.04

Cheers