I installed the iPadOS 17.4 RC last week, and found that when using the trackpad on my Magic Keyboard (my primary way to interact with my iPad Pro), very often I was unable to click on links in Safari/Chrome.
I could use my finger to click/follow the link, but moving the little mouse cursor with the trackpad and clicking with the trackpad failed. Not all the time, and it seemed that removing/reinstalling the keyboard (physical disconnect/reconnect) may have helped to 'fix' it, but the issue would come back later.
I downgraded back to 17.3.1, and will hold-off until a newer version.
It sounds like the RC that I used last week may be slightly different from today's RC. But, I'm afraid to update again only to have Apple "pull" the ability to downgrade (stop signing 17.3.1)
It would be nice to see a change log with an explicit 'fix' for this bug, but I doubt that'll happen