When shot in the world (ie: as entity), tipped arrow is using the arrow.png texture instead of tipped_arrow.png texture.

The bug is in java 1.20.5 and 1.20.6. (but i remember that 1.19 was displaying tipped_arrow correctly)

It's the same texture as arrow.png but it's different file. Some resource packs (one exemple) have a different look for the tipped_arrow because they use that tipped_arrow.png file, so you can see the difference when using one of them. (before that bug was released, now using these resource pack do not show any difference of course...)

(I noticed that it's not the same as this old bug: MC-105926, despite being quite similar)