I've built Metacity 3.42 for Ubuntu 21.10 with Xpresent support, which is behind a gsettings option that defaults to xrender. When Metacity is set as the required window manager in MATE with Xpresent set as the compositor the same failure to bring up a desktop session is encountered.
I have also built Marco without Xpresent and as expected it fallsback to Xrender which works with the new NVIDIA drivers and also preserves compositor support.
I've built Metacity 3.42 for Ubuntu 21.10 with Xpresent support, which is behind a gsettings option that defaults to xrender. When Metacity is set as the required window manager in MATE with Xpresent set as the compositor the same failure to bring up a desktop session is encountered.
I have also built Marco without Xpresent and as expected it fallsback to Xrender which works with the new NVIDIA drivers and also preserves compositor support.