This bug was introduced with the 1.20.3 update, and has not been patched since.
Whenever a player dies in any version, from 1.20.3, upon respawning, there's a "Loading terrain..." screen, being thrown in their face.
This can be very annoying whilst playing maps, especially if the gamerule "doImmediateRespawn" and "kill" command are used a lot.
Whilst this issue might not be recognized as much by players, using higher-end refresh rate monitors, for players using a monitor with a refresh rate of 60 or lower (including myself), an obvious flicker can be seen.
From my experience, using mods, which most players do nowadays, makes the "Loading terrain..." screen display exponentially longer, depending on the mods you use.
To put it into perspective, I've uploaded both POVs to youtube (both recorded on 60hz):
Vanilla: https://www.youtube.com/watch?v=1X1g1JEqU8c
Modded: https://www.youtube.com/watch?v=LNR_zhDkji8
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How is this marked as "works as intended", I think getting rid of the loading screen upon respawning is a must...
The main reason for this is to not have you shown half-loaded terrain, which actually gives visual issues if you're in an unloaded chunk (falling to the void, just to jump back up and repeat until the chunk is loaded).
This isthe fix for MC-228420.
Can confirm in 23w51b