On Android it often stutters, the cursor jumps across the characters at random speeds, sometimes it teleports sometimes it moves one character at a time smoothly. When you lift your thumb it often registers as an extra motion in an unexpected direction. And this is on a flagship Google phone. And it only allows left-right motion, not up-down.
So even if you know about it. It's more an exercise in frustration than anything.
It's not "on Android", it's whichever keyboard came with your phone. On iOS extremely small number of people use non-standard keyboard(it was later allowed), but on Android the keyboard was always an app and there are many.
The Google keyboard on a Google phone for some locales can be very different. Notably, the keyboard for Japanese doesn't do the spacebar thing, on the other hand, it contains actual keys to move left and right.
That's not been my experience on Android, I can go left right up down just fine. I've tried this on SwiftKey keyboard however but I'm sure it's the same in GBoard.
It's really bad in GBoard. I just tap the text itself and if I get close enough to what I want to edit I just backspace and retype. I regularly remove 5-10 characters just to fix a single mistyped one.
So even if you know about it. It's more an exercise in frustration than anything.