Mac volume sometimes not updating with mute button
I have a MacBook Air with the latest version of Big Sur (11.2.2 as of today). When I mute/unmute the system volume with the F10 key, the system registers the key press (big volume icon flashes at the bottom of the screen), but the system volume does not always update accordingly. If it fails to update the volume, I have to press the key two more times to get it back in sync with the toggle.
Here is a GIF illustrating the problem. It seems to be random; sometimes it works, sometimes it doesn't. You can see the issue by comparing the flashing icon to the volume status in the menu bar.
Anyone else experiencing this problem? It seems like this started happening ever since I upgraded to Big Sur.
MacBook Air 13″, macOS 11.2