I am using ArcGIS Pro 2.8 and a File Geodatabase. I was using ArcGIS Pro 2.9 and had this same issue. I downgraded to see if it would fix the problem.
Coordinate System:
StatePlane
Datum: NAD 83
Units: US Survey Feet
Zone: 4203
Snapping is turned on: Point, Endpoint, Vertex, Edge
When I trace a sewer main and zoom in 1inch = 0 Feet I noticed that the trace line is offset of the sewer main. Also when I draw a sewer tap it is not snapped to the sewer main. I decided to see if this was a rendering issue so I traced a sewer tap on top of another sewer tap and got the same results. I then ran topology (no dangles) on the sewer taps and ArcGIS Pro added a vertice and snapped the two sewer taps together. Which in theory that would move our sewer main which I do not want.
I know in the ArcInfo days and even in ArcMap if you zoomed in to far the features would jump around and look different than what they really are. So is this still may be a rendering issue? I do have a support ticket with ESRI on this.