Glad I'm not the only one facing this issue. After many weeks digging around, I found a solution that worked for a month and then it started happening again.
The previous solution was to simply disable the "Instant Hotspot" in PhoneLink. Worked for a month, then yesterday it came back again. Not sure what I can do as I use PhoneLink quite often.
The worst about his is that it doesn't happen on Windows 10 at all. Windows 11 is pretty garbage, full of unnecessary bugs and issues.