Chrome Version: Probably since forever
OS: Android

What steps will reproduce the problem?
(1) Long-press a word (don't lift up your finger).
(2) Notice the floating menu shows up.

What is the expected result?
The menu should not show up until your finger is lifted
(that is what an Android TextView does).

What happens instead?
The menu shows up when the text is selected even if your finger
hasn't lifted

There is the same problem for a caret floating menu.

The issue here is that the menu should be shown on the long-tap event. Android never gets the long-tap event because the long-press drag selector resets the gesture detection after the long-press selection (see RenderWidgetHostViewAndroid::OnSelectionEvent(): https://cs.chromium.org/chromium/src/content/browser/renderer_host/render_widget_host_view_android.cc?l=1376)