The Timeline Options" tooltip always appears under my pointer while recording, even if my pointer is over a window belonging to another app. It’s a browser window I’m reading copy from and scrolling through, even though Audacity is frontmost. Disabling “Show Timeline Tooltips” in Preferences:Interface has no effect on this specific tooltip.
Audacity 3.1.3, macOS 12.3.1, although was an issue in Audacity 2 as well.