Steps to reproduce
The Inter font that Element makes use of has optional ligatures which transform characters in sequence such as -> visibly into a single right-pointing arrow. e.g.

But recently, no such transformation is occurring for me on Element Desktop 1.11.38. I also tested 1.11.39, but the same behaviour occurs. Instead I see:

This is on NixOS Linux. I have not checked the "Use a system font" in Settings->Appearance->Show Advanced.
Outcome
What did you expect?
Optional ligatures to render in both the composer and timeline.
What happened instead?
They are not rendering in either.
Operating system
NixOS Linux
Application version
Element Desktop 1.11.39
How did you install the app?
From https://github.com/NixOS/nixpkgs/
Homeserver
No response
Will you send logs?
Yes