After the update, empty boxes or the first letters of the names of the sites appear instead of the logos of the sites added to the favorites. Users who noticed the error started to complain as of January. Judging by the number of people affected, the problem is quite common.
No sound from Apple yet
Apple has yet to comment on the matter. The error is not fixed either. Users have to stay on macOS 11.7.3 due to critical security fixes implemented. It is reported that there is no such problem in macOS Monterey and macOS Ventura.
Most likely, the company will release another update soon that will eliminate this error in the Safari web browser.