In past versions of Lightroom Classic, if a map location was marked as "Private", all location data (including both GPS data and hand-entered IPTC location data) would be stripped from the photographs on export. As of Lightroom Classic 11.4, it appears that the "Private" switch on locations is no longer being honored: exported photographs that have been marked as being at a private location are exported with all location data included.
STEPS TO REPRODUCE
1. Create a location in the Map module, checking the box to mark the location as private.
2. Select a photograph and apply the location to it.
3. Export the photograph. Make sure that the checkbox 'Remove Location Info' is unchecked.
4. Inspect the metadata on the exported photograph (on MacOS, use the Finder's Get Info)
Latitude, Longitude and other location-related metadata should not be included.
Latitude, Longitude and other location-related metadata are present in the exported photograph.
Reproduced on Lightroom 11.4.1 and 11.4 on OS X 12.4. Not tested on other versions/platforms, but on earlier versions of Lightroom the location data was correctly stripped for photographs marked as being at private locations, so this is apparently a regression.
This bug has real-world security implications for some users, so it should be addressed promptly.