Solution:
Apparently it is by design! I had to use “Unblank” extension to change the behaviour.

Hi everyone,

I’m experiencing an issue with GNOME 46 where my screen goes black immediately after locking. Here’s a bit more detail about my setup and the troubleshooting steps I’ve already taken:

System: Manjaro Linux Release: 24.0.4
Display: Single monitor setup (1920x1080 resolution)

Steps Taken:
Checked and adjusted Settings > Power > Blank screen and Settings > Privacy > Screen Lock settings.
Ensured monitor configuration is correct in Settings > Displays.
Updated system.
Disabled all GNOME Shell extensions.
Verified GNOME Shell and related packages are up to date.
Reviewed logs using journalctl -xe but found nothing conclusive.
Reset GNOME settings with dconf reset -f /org/gnome/.
Checked and updated graphics drivers.
Disabled lock screen fade animation with gsettings set org.gnome.desktop.screensaver lock-delay 0.

Despite all these efforts, the issue persists. Has anyone else encountered this problem or have any suggestions on how to fix it? Any help would be greatly appreciated!

Thanks in advance!