Bottom toolbar Button truncated on Mac Catalyst 26

On Mac Catalyst 26, a Button bar item in a bottom toolbar look squished.

This happens only when the "Mac Catalyst Interface" option is set to "Optimize for Mac". When it is set to "Scale to match iPad", the buttons look fine. For example, in the screenshots below, the text button should say "Press Me", instead of "…"

A simple reproducible snippet and a screenshot below. The toolbar button comparison between "Scale to match iPad" and "Optimize for Mac" are shown.

import SwiftUI

struct ContentView: View {
    @State private var selectedItem: String? = "Item 1"
    
    let items = ["Item 1", "Item 2"]
    
    var body: some View {
        NavigationSplitView {
            List(items, id: \.self, selection: $selectedItem) { item in
                Text(item)
            }
            .navigationTitle("Items")
        } detail: {
            if let selectedItem = selectedItem {
                Text("Detail view for \(selectedItem)")
                    .toolbar {
                        ToolbarItemGroup(placement: .bottomBar) {
                            Text("Hello world")
                            
                            Spacer()
                            
                            Button("Press Me") {
                                
                            }
                            
                            Spacer()
                            
                            Button {
                                
                            } label: {
                                Image(systemName: "plus")
                                    .imageScale(.large)
                            }
                            
                        }
                    }
            } else {
                Text("Select an item")
            }
        }
    }
}