Steps to reproduce the issue

1. Create a site with Jetpack 8.9.1 with a proper JP plan to use Pay with PayPal block.
2. Create a new ``Pay with PayPal block with the description field like the following:

<strong>line 1</strong>
<p>line 2</p>

3. Check the front-end. The HTML tags are generated OK.
   
4. Update Jetpack to 9.0.2 and try to edit the post including this Pay with PayPal block.
5. Check the front-end. The HTML tags are escaped:
   

What I expected

HTML tags should be generated properly in JP 9.0.x like the way it did in JP 8.9.x.

What happened instead

HTML tags are escaped in JP 9.0.x

Other notes

It looks like this is a regression of this PR #17256
Tix: 3424304-zen