Unwanted insertion point magnification in iOS18

I noticed the magnified insertion point in the image below after I upgraded my iPhone 13 mini to iOS 18.1.1. It occurs if I do a long press in Reminders, Notes, Pages and perhaps others. It presents a problem for me because I frequently reorder my lists manually with a long press but now 9 times out of 10 I get this unwanted magnification. Is there a way to turn it off or if not, how to get it under control?