This happens on both Windows 11 and Windows 10 (I've got two computers with the same problem). For some reason, Windows explorer will not show any tooltips when hovering over files/folders in explorer windows. Tooltips for desktop items do however show properly.
For context, this is the tooltip I'm talking about on a desktop item.
(The option "Show pop-up description for folder and desktop items" is of course, enabled, otherwise the desktop tooltip wouldn't show either.)