On the first run of MkIV (context --luatex) after updating my installation on Win11-x64, I get a complaint just after loading .../base/mkiv/syst-mac-lua :

open source     > level 1, order 11, name 'C:/ConTeXt_LMTX/tex/texmf-context/tex/context/base/mkiv/syst-aux.mkiv'
resolvers       > lua > loading file 'C:/ConTeXt_LMTX/tex/texmf-context/tex/context/base/mkiv/syst-aux.lua' succeeded
resolvers       > lua > loading file 'C:/ConTeXt_LMTX/tex/texmf-context/tex/context/base/mkiv/syst-mac.lua' succeeded
! ^^^^ needs four hex digits.
l.1506     {\unless\ifx##2^
                          ^^^3}%
?

If I let the build proceed, all seems to be well.

--
Rik

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