I was sure this has been a thing for a while, either that or safari has a UI bug since forever.
I regularly get the wrong favicon in specific sites, for example ars technica favicon in reddit
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It persists across profiles and into private browsing mode.
I thought that this was just a bug in iOS but based on the comments in this thread, it seems to be common not only across OSes but browser vendors too (I assume iOS Orion uses the same engine as Safari)