I've been messing around in this snapshot and I discovered that Carver Caves do not generate below Y=2 and completely fill in with stone/dirt/andesite/diorit... you get the point.
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We're tracking this issue in MC-214843, so this ticket is being resolved and linked as a duplicate.
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This is known to the devs https://twitter.com/henrikkniberg/status/1362118947156459525 (not sure how it got deleted mb)