It appears that Newlib in the Arm GNU Toolchain Version 11.2-2022.02 is not configured with --enable-newlib-reent-small. I installed gcc-arm-11.2-2022.02-mingw-w64-i686-arm-none-eabi and built one of my embedded applications. The linker failed due to a RAM overflow. I figured out that _WANT_REENT_SMALL in newlib.h is not defined. Moreover, Newlib in this toolchain is configured quite differently than the Newlib in the previous toolchain.
Are there plans to have a GNU Toolchain 11.2 with Newlib built with --enable-newlib-reent-small?
A fix for this is being worked on, and should be available in a future release.