This is quite annoying. I've turned off repeating in the settings and reset Bluetooth etc but still same prob.
Also lags all the time when typing fast. It will stop inserting, then to catch up, all of a sudden it will insert all of the missed characters all at once.
I have had this for almost a year on an M1 iMac, fully updated OS. I keep hoping each update, and keep filing a bug report at https://www.apple.com/feedback/