PWSH 7.1.3 fails with exit code 1 when stderr is redirected to stdout

Describe the bug
When pwsh (latest: v7.1.3) action on Windows contains stderr -> stdout redirection (e.g.: a simple 2>&1) the action fails with ExitCode 1

To Reproduce
Simply add the following line to windows-2019 action:

- name: STDERR redirection test
  run: $E = $(Write-Error "oops" 2>&1)

Expected behavior

$E = $(Write-Error "oops" 2>&1)

should not cause the build to fail and $E variable should be assigned the value Write-Error: oops

Runner Version and Platform

Current runner version: '2.278.0'
Operating System
  Microsoft Windows Server 2019
  10.0.17763
  Datacenter
Virtual Environment
  Environment: windows-2019
  Version: 20210425.1
  Included Software: https://github.com/actions/virtual-environments/blob/win19/20210425.1/images/win/Windows2019-Readme.md
  Image Release: https://github.com/actions/virtual-environments/releases/tag/win19%2F20210425.1

What's not working?

Run $E = $(Write-Error "oops" 2>&1)
  $E = $(Write-Error "oops" 2>&1)
  shell: C:\Program Files\PowerShell\7\pwsh.EXE -command ". '{0}'"
Write-Error: oops
Error: Process completed with exit code 1.

Job Log Output

Run $E = $(Write-Error "oops" 2>&1)
  $E = $(Write-Error "oops" 2>&1)
  shell: C:\Program Files\PowerShell\7\pwsh.EXE -command ". '{0}'"
Write-Error: oops
Error: Process completed with exit code 1.

NB: This is different from #169
The code example from #169 :

run: |
  npm ping
  npm ping
  npm ping

does work with the latest version of the runner but 2>&1 does not.

When $E = $(Write-Error "oops" 2>&1) is executed in my local pwsh it works as expected:

PS \> $E = $(Write-Error "oops" 2>&1)
PS \> $lastExitCode
0
PS \> $E
Write-Error: oops

but fails with ExitCode 1 when executed as a part of github action. Both, my pwsh and github action pwsh seem to be of the same version: 7.1.3.
Combined test with version included:

- name: STDERR redirection test
  run: |
    $host.Version
    npm ping
    npm ping
    npm ping
    $E = $(Write-Error "oops" 2>&1)

outputs:

Run $host.Version
  $host.Version
  npm ping
  npm ping
  npm ping
  $E = $(Write-Error "oops" 2>&1)
  shell: C:\Program Files\PowerShell\7\pwsh.EXE -command ". '{0}'"

Major  Minor  Build  Revision
-----  -----  -----  --------
7      1      3      -1
npm notice PING https://registry.npmjs.org/
npm notice PONG 0.527ms
npm notice PING https://registry.npmjs.org/
npm notice PONG 0.277ms
npm notice PING https://registry.npmjs.org/
npm notice PONG 0.269ms
Write-Error: oops
Error: Process completed with exit code 1.

Start by reproducing the pwsh command in a Windows 2019 GitHub Actions job using runner version 2.278.0 and PowerShell 7.1.3. Compare the redirected Write-Error behavior with local PowerShell; done means the command assigns $E without causing the action to exit with code 1.