Book and Quill Text Formatting Broken - Line Breaks and Alignment and Colored Text Behaving Inconsistently

After updating to 1.21.120 (GDK update) any books written before the update now have broken formatting. Line breaks will randomly shift down or dissapear, some pages have centered or aligned entries ruined by premature wrapping, fixing the issue on one page will almost always cause another page to break, whenever you close the book after seemingly fixing all errors and open it again said glitch will occur again and formatting will be ruined, newly written books (after 1.21.120) seem to be unnafected suggesting only legacy book NBT data is broken by the update.

This is especially frustrating for players in survival/realm worlds who use books for coordinate logs, manuals, farm logs etc, as this corrupts existing documentation and makes critical pages completely unreadable and or sloppy looking.

Steps to reproduce:

Open a book written before updating to 1.21.120.

Flip through the pages, some will have shifted line breaks, cut off lines, or mangled formatting.

Try fixing one page (by retyping or shifting text)

Notice that another previously unbroken page now becomes glitched

Create a brand new book and write the exact same content, the formatting behaves normally.