Cloud (☁️) emoji not rendering in terminal or editor on macOS Monterey 12.3.1

[vscodenpa]

Does this issue occur when all extensions are disabled?: Yes

• VS Code Version: 1.66.0
• OS Version: macOS Monterey 12.3.1

Steps to Reproduce:

1. Copy to either the terminal or editor: "☁️".
2. It won't render correctly:
   

Reopening -146893, this happens with the default fonts, and also with 'Meslo LG M for Powerline' and 'MesloLGM Nerd Font', this doesn't happen in other apps that use this same font, e.g. iTerm2, and doesn't happen only in the SV Code terminal, it also happens in the editor itself. Something is wrong here... It's not right to just blame the font...

This happens with both editor.fontFamily set to the default and with "editor.fontFamily": "'Meslo LG M for Powerline', Menlo, Monaco, 'Courier New', monospace".