SmartShift breaks connection on activation and mouse becomes inactive for 3–5 seconds, and you can see it even in Logi Option+, mouse changes status to "inactive".
Mouse disconnects right in the moment of changing scrolling mode.

It's extremely annoying, if mouse disconnects for several seconds in 30% cases when you just try to use free scrolling via SmartShift.

Disabling of SmartShift resolves the issue, but it is just WA, and it's inappropriate for a such class of product

Issue appeared couple months ago.

Mouse: MX Master 3S
OS: macOS 15.0
Connection type: Bluetooth