The Bug:
When attempting to repoduce MC-212 the motion of the player's screen clearly indicates that their velocity has been reset to zero, however once hitting the ground, fall damage is still taken based on the would-be velocity from the original fall.
Steps to Reproduce:
Attempt to reproduce MC-212 in Minecraft Java 1.21.4.
Take note of the motion of the player's screen when quiting and then reloading/rejoining the world.
Observed Behavior:
Fall Damage is not ignored when reloading/rejoining a world, however the apparent player velocity is. (There is a mismatch between the players observed velocity and resultant fall damage)
Expected Behavior:
When reloading/rejoining the world, the players apparant velocity agrees with the fall damage. For example the player joins the world with the same instantaneous velocity as when quiting the world from before, observed by the falling motion of the player's view.
Additional Notes:
This bug does not appear in Java 1.21.3 or earlier versions.
Might consider ignoring fall damage instead of fixing the player's velocity. This was the normal behavior in all previous versions and players, including myself have grown accustomed to it as a feature of the game.
Related issues
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Hi! Could you please attach a video of this happening to help us better understand your problem?
This ticket will automatically reopen when you reply.

Added a video under Attachements.

This may relate to (or duplicate) MC-195116.

Thank you for your report!
We're tracking this issue in MC-195116, so this ticket is being resolved and linked as a duplicate.
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