This happened to us on two servers on two different hosts. One was pure vanilla, the other had minimal behaviour/resource packs. We fixed it by replacing the level.dat file with one from a fresh install, adding back in things like player sleeping percentage and days played (adding currentTick data from the original level.dat with time add) in the console. We took a backup of course, just in case everything went poorly, but both servers are up and playable now.
This is still an issue as of Bedrock 26.3 today. Speaking to others this is a widespread issue and it’s solely caused by high ping, from the changes brought in with Spring to Life. I still can’t place more than 2 (sometimes 3) blocks at a time. This is an issue on realms and BDS servers.
I had this same issue. Turning off vsync manually in options.txt fixed it for me.
This is still an issue as at Bedrock 26.30 Chaos Cubed.