In creative on singleplayer when I was on a horse and shot an arrow up at myself it was bugging on top of me. It was in version 1.16.2.

The horse had no armor.

The bow had no enchantments.

I was aiming directly up.

I tried on 2 worlds and it had the same outcome.

I was not not using optifine or forge just pure vanilla minecraft.

All the gamerules were untouched.

This also happens when you are not on a horse. 

Works with a crossbow and trident

sorry the video is so short and low quality.