WTF is going on with this render? Cycles, banding, no idea, blender 3.2

[Vitaliy_Sokol]

This is how it should look like

And this is render result.

I just opened an old file in blender 3.2 and WHAT IS GOING ON???

[Vitaliy_Sokol]

Fortunatelly I could open this file in BLENDER 2.93 and render looks well.

BUT what happens to 3.2 version?