Exact same issue. Please. Can't play with my kid while PC is hosting. If the Switch is a host it has a lot more limitations memory-wise and processor-wise so it plays awful and has lags this way.
Does not neccessarily occur when close to the player. The line is also stuck when the bobber bounces of the edge of a solid block before it hits the water. Then it happens then no matter what the distance is. At least you can still catch fish from the air there. 😃
Version 1.19.63 fixed it for us (updated on Switch and PC - use Windows Store to update on PC)