I hope this issue gets fixed. The gameplay performance is partly affected. For example, for me when I was in android 10, I get 60 fps smoothly with 12 chunks with shaders, vanilla textures. But now with android 11, it has about 15-30 fps on 8 chunks, also with shaders, And as bonus, I removed beautiful skies and installed a 16x16 pack. Really problematic as it hinders the Minecraft experience. I'm not saying it's unplayable tho, but it's really bothersome.
Regards to this bug, it is now fixed in 1.18.0.21.
I have tried it, loading is very fast like usual. Noticeable change tho, the directory of Minecraft is now located at android/data/com.mojang.minecraftpe/files/games/com.mojang instead of the usual outside directory games/com.mojang.