The Bug
While a player is spectating another entity, such as another player, the spectator's FOV will not be affected by either the spectator itself or the spectated mob's speed/slowness effects.
To Reproduce
Summon a zombie and splash it with a potion of slowness.
Give yourself the slowness effect by using the command provided below.
/effect give @s minecraft:slowness infinite 10 true
Switch to spectator, spectate the zombie, and observe your FOV.
Can confirm. Also affects 1.17.