This applies to more than just emojis. I use a transliteration scheme that makes use of the ‘COMBINING RETROFLEX HOOK BELOW’ (U+0322) codepoint to denote Tamil characters that have no english equivalent. For example: t̨ d̨ n̨ l̨.
Obsidian does not seem to handle combining codepoints like these well. Instead, it treats these as two individual grapheme clusters, meaning that text editing gives them separate boundaries. But really they should have a single combined boundary.
(Note: I have a weird usecase but this applies to combining characters in general. Like this a combined with a combining grave codepoint: à)
This is particularly bad when you try to use these characters in code blocks, where they appear as two different characters. (counter-example: this Discord forum renders them properly )