Can confirm on 24w13a (Java 17), in survival mode after the first killed mob the bug disappears (probably when player gains xp), in creative mode it works as in the description
I have bad news for you, you don't understand how Roman numerals work. You can learn more on wikipedia
Your issue is invalid
@BugTracker It is not only rendering issue (if I understand you correctly, and by "rendering" you mean drawing blocks on the screen). I didn't think about it when I opened this issue, but to prove that it is not only rendering, I ran 2 dedicated servers (vanila and modded (paper 1.20.2 but issue exists on this version too)) (not at the same time)
Vanila server: client used 15-30% of cpu, server used 30-60% (it can't use more because overall cpu usage was about 90%)
Modded server: clinent used 15-60% of cpu (that shows that redering of blocks also causes some "issues" but i think it is normal) and server used 20-30%
I don't think that it's invalid because Mojang (probably) cares about performance of the game and as you notticed, many of us experience this issue
anyway I think it is helpful
After 24w19a chunk loading causes much less cpu load (as stated in change log) (noticeable in spectator, but anyway it is really better), but chunk generation still uses all cpu resources