Assuming that the mouse pointer is parallel to the display and that a light themes is used, the visual click zone is positioned below and to the right of the upper left corner.
E: correct content
E₂ (correction): The visual click zone should be more than 1 px², but it’s not misaligned.
If there is a drop shadow, then when you click, the click should be on the shadows point, not the “floating” triangles/mouses point.
The point here is the outmost point on the triangle of the mouse ofc. The position that “clicks”.
In the cursor metatada you can specify where the click occurs. Personally I always assumed the click would happen at the tip of the arrow, not the shadow below.
I think I understand the pixel you are referring too, it may be diagonally adjacent to the click pixel.
I’m not sure I understand ‘why’ post OP suggests that should be the ‘correct’ click pixel?