Regression was checked on UE5-Release-EarlyAccess CL 16682836, Regression - No.
This can also be reproduced outside of ShooterGame, such as in a third person template project, using the same commands (demorec, ServerTravel, demostop, and demoplay).
Actual result: Replay plays back events that occurred only before ServerTravel command. After this command camera stays on the current map. Player stay motionless during this time.
Expected result: The replay should play back the events that occurred after the ServerTravel command too.
There's no existing public thread on this issue, so head over to Questions & Answers just mention UE-126850 in the post.