Today after having updated my phone to the latest beta of IOS 16 the captions on videos is working once more, so if you have the setting on that allows captions/subtitles in media to be read by Voice over. The bug that was not allowing the captions to be read when watching a video that might have the subtitles is working once again.
By Joker_Alice, 9 August, 2022
Forum
Apple Beta Releases
Your Feedback is Important to Improving Accessibility on Apple platforms
Don't assume that Apple is aware of a bug or that your report won't make a difference - submitting bug reports directly to the company helps them reproduce and resolve the issue faster. Your report may provide crucial information. The more reports they receive, the higher the priority they give to fixing the bug.
If you're using a beta version, use the Feedback Assistant on your device to submit feedback and bug reports. If you're using a public release, follow the instructions on this page.