Looks like Type > Show Hidden Characters is on.
No, it's not.
You need to un-fill the stroke and re-fill again. Then it become correct.
If you convert the type to outlines, do you see single points at those places?
If convert to outlines. It is correct.
I can only guess that it's a flaw in the font in that case.
It is correct when not useing Round Cap.
Since it is a old file. So I keep it unit next update and check again if it is correct.