I updated the Minecraft Launcher only for it to open up and cause me to lose the full version. I was just playing it last night but when I got home from tonight to update it, it only showed the demo version for me. I merged my Mojang into my Microsoft account recently and had no problems with the older version of the launcher so that I could play the full Java version until this new recent update.
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We're tracking this issue in MCL-19984, so this ticket is being resolved and linked as a duplicate.
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DuplicatesΒ MCL-19984