it's part of the Material Design 3 branding, for some reason. The original thread for the launch of the design system [1] is full of people baffled by Google making a cursor that lags
I just checked Material Design 3, as I use a lot of it in projects, and it still uses Roboto font for everything, so they're not even dogfooding the Sans font there yet, but they'll make us suffer their cursor :)
Look at all the rubes who can't understand that a lagging mouse cursor is an integral part of Google's Molasses-Forward Design Language Initiative.