There is no watermark, and there has never been a watermark on any release build of Windows 11. If you have any actual evidence to the contrary, please post it here.
Just look at that screenshot, it's not even running 22H2. Looking at the the build version, you can see that it was actually a Developer or Release-Preview version of 21H2 from last year.
Early last year, there were some Developer and Release-Preview builds that started showing up with the watermark. That watermark never made it to any actual release build. Later on, the watermark also disappeared from the newer Developer and Release-Preview builds.
Some actual fact checking would be nice. I mean common, it shows 21H2 right there in the screenshot, it's not like it's hidden or hard to see. Neither is the date in the bottom right of the screenshot... lol