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The default home page of the Twenty Twenty Four theme is not the static WordPress page and it doesn’t have the_content filter.
This is very strange as adding the filter is part of WP basics
Because of it it can’t be parsed and terms doesn’t highlights there.
The solution can be creating the home page manually and changing the default home page to static page and selecting new page.
@creativemindssolutions thank you! I was afraid, that the dynamic page is the reason and a static one could be the solution.
Kind regards!