Yes, this type of problem has been discussed by other Mac users, including reports of the menu bar failing to appear in fullscreen mode.
However, I haven’t verified a report matching your exact MacBook Air M5 and macOS update, so it’s not possible to confirm that this is a known bug affecting your particular configuration.
Normally, when an app is in fullscreen mode, the window controls are hidden along with the menu bar. Moving the pointer to the very top edge of the screen should reveal the menu bar and allow you to access the green button to exit fullscreen. Apple explains this behaviour here: Use apps in full screen on Mac - Apple Support (IE)
First, move the pointer to the top edge of the screen and pause briefly.
If the menu bar and window controls still do not appear, check System Settings > Menu Bar and look at the “Automatically hide and show the menu bar” setting.
Depending on your macOS version, this setting may be under Control Centre instead. You can try setting it to Never to see whether that resolves the problem. Apple’s instructions are here: Change Menu Bar settings on Mac – Apple Support (UK)
If the problem continues, restart your Mac and check whether it occurs in several apps or only one. If the controls remain missing across multiple apps, even after restarting, the issue may be related to macOS rather than an individual app. You can check Software Update for any subsequent fixes or report the problem to Apple.
In the meantime, Control–Command–F can exit fullscreen mode in apps that support the shortcut. You can also try accessing the app’s View menu for a fullscreen command.
Could you clarify which macOS version you updated to, and whether the menu bar itself is also missing when you move the pointer to the top of the screen? That distinction would help narrow down the cause.