The camera and microphone are working fine, and I’m able to use Meet in Google Chrome without problems. Firefox was working fine as well, until I applied this update.
This happens on a blank new profile, without any extras installed.
This is probably RHBZ #2349026 aka Mozilla #1945597 and one solution is to turn off pipewire in Firefox by changing the media.webrtc.camera.allow-pipewire configuration value to false.
Another solution, which worked for me, was to force pipewire to use libcamera instead of v4l2 to access the camera by creating ~/.config/wireplumber/wireplumber.conf.d/99-prefer-libcamera.conf containing: