Clip into raft/boat and teleport back up repeatedly when exiting in more than 1 block deep water

When you exit a raft/boat in more than 1 block deep water you clip into the boat/raft and teleport back up until you break the raft/boat or fly in creative mode

What I expected to happen was...:
Exit the raft/boat

What actually happened was...:
Repeatedly clip into raft/boat

Steps to Reproduce:
1. Place boat in 2 block deep water
2. Exit by pressing shift
3. Bug Happens

Video of bug:

https://www.dropbox.com/s/4esmdzo84ldwj03/Minecraft%201.20%20-%20Multiplayer%20%283rd-party%20Server%29%202023-06-07%2012-32-18.mp4?dl=0