Then your layer is a normal raster layer and you should be able to select pixels and move your the pained in pixels. The thing is I can not explain why in your lasso section was de-selected and your painted circle layer's transparency was loaded as a selection as if you did a Ctrl+Left Click one the layers content thumbnail in the layers Palette. Have you installed any third Party Plug-in, Photoshop extensions. event handlers. The changed selection I saw looked like it was programmed not likely to be a random bug, The selection was around the pixels you painted in the layer.
On my Windows system when I move the pixels the selection does change to just the selected layer pixels any I can move The pixels anywhere with the move tool with or without the move tool displaying the transform controls. Note: To move the Pixels the cursor must be within the selection on a select cyan area.
If you are using a Pen Adobe Broke Photoshop WinTab support in updated 21.1.0 and did not fix it in 21.1.1. Be sure Photoshop and your Pens are using Windows INK API.

Thanks. Turns out it was related to the stylus driver. I tried re-installing the Wacom AES Digitizer Driver from the drivers page for my machine, rebooted, and the move tool is now working properly as it should. Also updated to Photoshop 21.1.2.
Appreciate the help. 🙂