Hi @rogerdz. Thank you for your report.
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Make sure that the issue is reproducible on the vanilla Magento instance following Steps to reproduce. To deploy vanilla Magento instance on our environment, Add a comment to the issue:

@magento give me 2.4-develop instance - upcoming 2.4.x release

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Hi @bgorski. Thank you for working on this issue.
In order to make sure that issue has enough information and ready for development, please read and check the following instruction: 👇

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✅ Jira issue https://jira.corp.adobe.com/browse/AC-6748 is successfully created for this GitHub issue.

✅ Confirmed by @bgorski. Thank you for verifying the issue.
Issue Available: @bgorski, You will be automatically unassigned. Contributors/Maintainers can claim this issue to continue. To reclaim and continue work, reassign the ticket to yourself.

Hi @engcom-November. Thank you for working on this issue.
Looks like this issue is already verified and confirmed. But if you want to validate it one more time, please, go though the following instruction:

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Hello,

As per the process, all the issues have been confirmed by the Engcom team member. So @engcom-November, I request you to please go through with it and try to reproduce the issue.

Thanks

@magento give me 2.4-develop instance

Hi @engcom-November. Thank you for your request. I'm working on Magento instance for you.

Hi @engcom-November, here is your Magento Instance: https://bc0dab821f066180e25855e466b355e3.instances.magento-community.engineering
Admin access: https://bc0dab821f066180e25855e466b355e3.instances.magento-community.engineering/admin_3f74
Login: 753a7a2c
Password: 6399326d64c1

Verified the issue on Magento 2.4-develop instance and the issue is reproducible.

I believe this bug also affects the checkout, as disabling the Company field using config.xml always previously also hid this field from checkout:

<?xml version="1.0"?>
<config xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:noNamespaceSchemaLocation="urn:magento:module:Magento_Store:etc/config.xsd">
    <default>
        <customer>
            <address>
                <company_show>false</company_show>
...

Hello,

As I can see this issue got fixed in the scope of the internal Jira ticket AC-6748 by the internal team
Related commits:https://github.com/search?q=repo%3Amagento%2Fmagento2+AC-6748&type=commits

Based on the Jira ticket, the target version is 2.4.7-beta1.

Thanks