I'm playing on PS5 in the latest build. The fishing animation only works if I don't go underwater. After going underwater it stops working and only gets fixed if I reload the game. Also, in the video we can notice two more bugs as following:
1- When I cast the line for the first time an empty balloon appears - probably because I didn't have enough space and casted onto the rocks. I think it's supposed to have something in there though.
2 - Even though my instant catch skill doesn't trigger, I get the "lucky angler" message. It's popping up all the time.