"Use startup notification" with any launcher results in permanently-busy cursor

I'm using Manjaro Nibia 20.2.1 stable with the latest stable packages.

I'm using xfwm4-git from the AUR. Here's version info:

[alex@alex-pc ~]$ xfwm4 --version
	This is xfwm4 version 4.16.1git.3ff334f50 (revision 3ff334f50) for Xfce 4.16
	Released under the terms of the GNU General Public License.
	Compiled against GTK+-3.24.24, using GTK+-3.24.24.

	Build configuration and supported features:
	- Startup notification support:                 Yes
	- XSync support:                                Yes
	- Render support:                               Yes
	- Xrandr support:                               Yes
	- Xpresent support:                             Yes
	- X Input 2 support:                            No
	- Embedded compositor:                          Yes
	- Epoxy support:                                Yes
	- KDE systray proxy (deprecated):               No
[alex@alex-pc ~]$

To reproduce:

1. Edit a launcher.
2. Enable "Use startup notification".
3. Click "Save".
4. Close the launcher properties.
5. Click that launcher.
6. Ensure your mouse cursor is hovering over something managed by XFWM, such as the panel, a window border, or the desktop.
7. Wait at least 5 minutes for the cursor to change from "busy" (usually the pointer image with a nearby animation; theme-dependent) to "idle" (the plain pointer image).
8. If in doubt whether this is due to a particular program, change cursor theme to another theme and back, then repeat steps 1 through 7 with a different program's launcher.
9. If still in doubt, repeat step 8.

Observed behavior:

• When "Use startup notification" is enabled on any launcher and that launcher is clicked, the mouse cursor switches to the "busy" state permanently.
• This has been tested for more than 24 hours, and the cursor state has not changed.
• This "busy" cursor state is only visible while a screen element managed directly by XFWM4 is hovered. So, for example, if a Firefox window is open, hovering inside the web page content region prevents the "busy" state from being visible, but hovering on the panel or the Firefox window title bar brings the "busy" state back.
• A workaround to return the busy cursor state back to the idle cursor state is to open "Mouse And Touchpad", switch to the "Themes" tab, choose a different theme temporarily and then choose the theme that was previously in use.

Expected behavior:

• When the launched program is done launching, the busy cursor state is expected to return to the idle cursor state.
• If the launched program does not handle this functionality properly, XFWM4 is expected to return the cursor to the idle cursor state automatically after 10 seconds, according to this related commit: 388b6ff3

Additional information:

• This was specifically tested after building XFWM4 with the changes made in 388b6ff3
• The behavior described was identical in a build from yesterday, before the changes in 388b6ff3
• This issue was tested again after a reboot.
• This issue was introduced some time in 2020 on my system, as there was a time when the busy cursor would change back to the idle cursor on its own in early 2020.
• I am ready and willing to do additional testing and/or gather additional info by request.