Unwanted blue bounding box around text in Photoshop

Please help me, this is making me crazy! Since some recent update, I now have a blue bounding box showing up around my text layers when they are selected in the Layers panel. It doesn't matter what tool I have selected. My eyes are not used to this extra blue box and it throws off my whole ability to assess my designs. I'm using PS 23.1.1 on a Mac running Sonoma 14.5. How do I get rid of this blue box?!?

I have attached a screenshot of a text layer with the blue bounding box. In this image, the bounding box is only showing up on top and bottom because I have the sides of my text layer pulled all the way to the sides of the document. If I had a narrower text layer, there would be blue lines on the sides of the box as well. In the image I have the Move tool selected so you can see I don't have the "Show Transform Controls" box checked, but this blue bounding box is there no matter what tool I'm using.