This is happening at 20w13a even without setting up a respawn anchor. You can't place any block and nether portals aren't working.
If you try to break a block, it changes to a nether block, sometimes any other nether ore or just air. If you right click it, it comes back to its original block. (https://imgur.com/a/aos6jx4) The torch shown in the last image was put using the setblock command and then right clicking the block where it was supposed to be.
If you try to reload the world, a new model of your character appears but you can't control it. You can just move your camera view. (https://imgur.com/a/f1cD08M)
It happened to me in 1.16 Pre-release 5 by just clicking Re-Create and coming back to the world list