Fishing line only starts on half distance between the fishing rod and bobber (Apple M1 only)

The bug

A cast fishing line is rendered much further from the fishing rod, while in first person view, than it was in previous versions. In 21w08b, a player casting a fishing line could expect to see it very close to the fishing rod item in their hand, regardless of the distance between the player and the fishing hook:

In 21w10a, however, the distance between the fishing line and the fishing rod is much greater. This is much more noticeable when the fishing line is longer:

How to reproduce

1. Cast a fishing line in 21w16a, while in first person view
   The line is much further than it was in previous versions from the rod