This is a known issue which according to articles I have read is solved in KB5007262. I am running 22518 and I looked at my update history of Quality updates and I don't see it. I have another post right now where I asked the question, but one of the MVPs suggested that I shouldn't ask it here. Not sure why. I downloaded the KB, but it will not install on 22518. Is that the build you are testing on?
Unfortunately, those articles are WRONG about KB5007262 -- this issue is NOT fixed. Some tech sites assumed that simply because MS added the term "NVMe" to its notes (after the fact by the way), they assumed it was the same NVMe issue being reported here and elsewhere -- where there is a 40% to 50% reduction in random write speed, as compared to Win 10, with an NVMe SSD running Windows 11.
Rather, the "NTFS journaling" issue that MS "fixed" (in KB5007262) relates to ALL types of hard drives as set forth in the notes for that update (not just NVMe SSDs) and it results in some very MINOR improvement in random writes on SSDs. But not anywhere close to fixing the 40 to 50% difference between Win 10 and Win 11 with random write speeds and NVMe SSDs (and where the OS is on the SSD).
So those sites made assumptions (without testing) and are incorrect. In fact, Neowin did test, and they also found KB5007262 did NOT fix this issue (it is build .348 by the way). I'm worried that now MS thinks it is fixed, when it is NOT, since a number of sites ran articles saying it was fixed (without any proof). Here are some threads, including what Neowin said about the alleged "fix":
Microsoft's NVMe slow-down fix for Windows 11 didn't work according to our testing - Neowin
https://www.reddit.com/user/gugu59/
KB5007262 update may fix SSD performance issues in Windows 11 : Windows11 (reddit.com)