The two translation strings subtitles.entity.horse.saddle and subtitles.entity.pig.saddle both are translated as "Saddle equips" in en_US, but show up separately in the subtitles.
To reproduce
Enable subtitles
Summon a tamed horse and a pig
Equip both with a saddle at the same time
→ ❌ Two identical subtitles are displayed
Video
[media]
Can confirm in 21w07a.