Exported FBX animation different from source

I’ve been trying to fix some animation export problems where the fbx animation does not match the source.
Baking the animation before export does not seem to help.
I was able to simplify it down to this file:
20231120_Debug_02.blend (858.0 KB)
I’m using Blender 4.0.1 on this file but had the same problem with 3.6

Could someone please check if you are able to export this animation as fbx, then import it back in Blender and have the exact same animation playing?

Source:

FBX:
20231121_143337_blender

I have tested this with Blender 3.6 and got the same result exporting FBX and DAE.