Falling or flying through floating water sometimes doesn't reset fall damage

When flying with an elytra and saving yourself with floating flowing water sometimes doesn't reset fall damage. On Java, this was fixed in the 22w03a snapshot of 1.18.2. (MC-245347)

How to Reproduce:
1. Create a creative world with a large enough vertical hole.
2. Place some signs a few blocks above the bottom of the hole.
3. Place water above the signs.
4. Give yourself elytra and firework rockets.
5. Switch to survival mode.
6. Fly down the hole at high speeds.

Observed Result
You take damage or die of fall damage.

Expected Result
Water should reset the fall damage consistently.