Guessing this has still not been fixed in Windows 11 2261.900 or the issue has returned?
Just switched to this build from Windows 10 yesterday and I do not see my DNS Search Suffixes getting applied from DHCP.
If I look at DhcpDomainSearchList within HKEY_LOCAL_MACHINE\SYSTEM\CurrentControlSet\Services\Tcpip\Parameters\Interfaces then I clearly see the multiple suffixes, but ipconfig /all only provides the first suffix.