This is what I am getting on AC25 4013 on MacOS Monterey, when I trace-reference some other layout: the texts in the traced master, and traced drawing including labels, appear huge (most likely in a paper size-model size tracing screwup, but I haven't checked).
I think I have seen this recently on AC24 too but I am not positive.
@Ignacio I'm still on Big Sur but I have AC25 5005 running and I'm not seeing Layout on Layout scaling problems. It may be Monterey related (or 4013). There seems to be a lot of bugs blamed on the macOS version just now. Have you reported it to your local support?
Apple iMac macOS Monterey / AC26UKI (most recent builds)