After the 1.16.100 update if you hold a fishing rod in third person front it doesn't move with the player and stays completely still. But if you are in 1st person it still moves if view bobbing is activated. If you look at the paper doll it also doesn't show the fishing rod move.
Thank you for your report!
We're actually already tracking this issue at MCPE-94201, so I will resolve and link this ticket as a duplicate.
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