I am having the exact same problem. I too have been using (as a paid subscriber) for many years.
Motorola Moto G Power
Evernote Android v 10.46
Android v 11
When this happens to me, I cannot even cancel. The "capturing" rotation icon keeps going forever. The only way out for me was to press the take photo button. As you described, that took the photo with cropped border, but not clean and clear with black & white like it did before. In this case it is still in color and is also washed out.
Since the major overhaul version change, the Android version has been very slow, but has been barely usable. Now with this problem, the app is not worth having, as I rely on Evernote for keeping paperless receipts.