jq JSON with newlines output formatting madness - bash vs zsh discrepancy

jq-bash-vs-zsh.txt

$ jq --version
jq-1.6
---

bash-3.2$        jq --null-input --compact-output --raw-output --monochrome-output --arg test 'A\nB' '{test: $test}'
{"test":"A\\nB"}
bash-3.2$  OUT=$(jq --null-input --compact-output --raw-output --monochrome-output --arg test 'A\nB' '{test: $test}'); echo $OUT
{"test":"A\\nB"}


zsh-5.8.1>       jq --null-input --compact-output --raw-output --monochrome-output --arg test 'A\nB' '{test: $test}'
{"test":"A\\nB"}
zsh-5.8.1> OUT=$(jq --null-input --compact-output --raw-output --monochrome-output --arg test 'A\nB' '{test: $test}'); echo $OUT
{"test":"A\nB"}

# Folks on SO suggest to use printf %b to obtain \n instead of \\n
# https://stackoverflow.com/questions/67391180/use-newline-with-jq
# But discrepancy in zsh between the modes are still there
zsh-5.8.1>       jq --null-input --compact-output --raw-output --monochrome-output --arg test "$(printf %b 'A\nB')" '{test: $test}'
{"test":"A\nB"}
zsh-5.8.1> OUT=$(jq --null-input --compact-output --raw-output --monochrome-output --arg test "$(printf %b 'A\nB')" '{test: $test}'); echo $OUT
{"test":"A
B"}