We are building an ArcGIS 10.6.1 Desktop system for a major utility that has been in FRAMME and has gads of annotation, which they demand to look and feel just like it did. There is an inconsistent behavior in how some characters work: the ArcMap appearance of some anno looks different on the map than how it does in the Attribute editor:
Note that the TextString in the Attribute Editor shows a 1/2 where the map shows a space (between 149' ,3 and "). Part of the problem, I suspect, is that the character involved (in a custom TTF) is using the 8 bit, i.e. is greater than 128, while the other characters are all below 128.
FWIW, I see the same problem in a previous example (built in 10.2.1, viewed in 10.6.1) where I have the data in SDE/Oracle: in that platform, I can see (via Oracle dump function) that the weird-behaving character is 208:
select dump(textstring) from secohanno where objectid = 279;
Typ=1 Len=26: 0,51,0,208,0,49,0,47,0,48,0,32,0,65,0,76,0,32,0,49,0,49,0,53,0,39