Just like you can nudge graphics on your layout, you should be able to nudge annotation into the correct position. Annotating is such a slow process, this might help remove some of the trial and error involved in moving annotation elements very small distances with a mouse.
The functionality to Nudge features, via a context menu or keyboard shortcuts, is available with the Move and Annotation tools at ArcGIS Pro 3.6.
https://pro.arcgis.com/en/pro-app/latest/help/editing/nudge-features.htm
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