I phone 13 pro max back camera issue

I purchased iPhone 13 Pro Max in may 2022 , i recently did the software update to 16.1 , since then my back camera has a pink dot with dotted lines horizontally and vertically.

I tried troubleshooting with all the suggestions on the Internet like hard reset , resetting all the settings too. The issue still seems to persist.

Will there an update fix be given or are there any more options.

Attaching a photo for reference