Hey Ultar,
I've since found a more complete fix, or at least one that worked for me.
I've edited the "Default Domain Policy" > Computer Configuration > Policies > Windows Settings > Security Settings > Event Log > Retain Security Logs in Group Policy Management on our server from a value of "90 days" to "Not Defined".
I've since connected to a few Windows 11 laptops, confirmed their Event Viewer settings are set to Overwrite logs when full, and they've continued to work well for weeks since.
Hope that helps.