Fell out of the world and died when loading the world

I have a slow disk, and when i updated to 1.21.4, if my singleplayer world loads for too long i start taking void damage and fall out of the world, losing all my items permanently in the process. This wasn't the case on previous versions, there i was falling into the void indefinitely and then popped up on the surface when the chunks ended loading.

This happened at least two times already.