I had hoped the last update fixed the issue, but it did NOT. I have two 2022 Apple TV 4K 128GB, and it is happening to both of them. At first I thought it was a complete remote disconnect, but as others have discovered, it works if you get the remote really close to the Apple TV, and then ONLY a reboot resolves the issue.
Last night I was watching a movie on a streaming service, and in the middle of it, I got the "Remote Disconnected" message, and after that it would not work unless it was less than a foot away from the Apple TV. This was the first time that I actually witnessed it happening while using it. All the other times were when I went to use the Apple TV, and it wouldn't respond (no signal on TV), until I figured out that you had to get the remote really close to it.
Not sure if I should return and swap them out as some people are reporting no problems after the last firmware update. I've had every generation of Apple TV, and never had an issue like this. I think it might be a design/hardware issue since these new designs no longer have the fan, and are a smaller form factor. Maybe an overheating issue?