Basically when you write something on the poster after placing it the text disappears or gets corrupted.
The same happens in the chat messages of any player.
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Is it only that phrase that gets altered? It is probably the filter not allowing certain words.

No, It happens with random words, sometimes the text is placed correctly and sometimes not. Still in version 1.14 still happening. Another thing: it only happens in realms and it also affects books.

What do you mean by "random words"? It may be helpful to have specific examples of words that get altered.