UIGraphicsImageRenderer and ImageRenderer, both cannot render text at the right size

[nomnom]

Consider this example

struct MRE: View {
    @State var image: UIImage?
    
    @ViewBuilder
    func makeView() -> some View {
        VStack(spacing: 0) {
            Image("cat")
                .resizable()
                .aspectRatio(contentMode: .fit)

            Text("HELLO")
                .font(.system(size: 56))
        }
        .padding()
    }

    var body: some View {
        VStack {
            makeView()
            
            if let image = image {
                Image(uiImage: image)
                    .resizable()
                    .aspectRatio(contentMode: .fit)
            }
            
            Button {
                image = makeView().asImage()
            } label: {
                Text("copy")
            }
        }
    }
}

extension View {
    func asImage(scale: CGFloat = 1) -> UIImage {
        // Must ignore safe area due to a bug in iOS 15+ https://stackoverflow.com/a/69819567/1011161
        let controller = UIHostingController(rootView: edgesIgnoringSafeArea(.top))
        let view = controller.view
        let targetSize = controller.view.intrinsicContentSize
        view?.bounds = CGRect(origin: CGPoint(x: 0, y: 0), size: targetSize)
        view?.backgroundColor = .clear

        let format = UIGraphicsImageRendererFormat()
        format.scale = scale // Ensures 3x-scale images. You can customise this however you like.
        let renderer = UIGraphicsImageRenderer(size: targetSize, format: format)
        return renderer.image { _ in
            view?.drawHierarchy(in: controller.view.bounds, afterScreenUpdates: true)
        }
    }
}

It gives the following image, where the image looks exactly right, but the text always come out small. How to fix?