Similar to this article I was experiencing a false cursor position and the cursor position and text shifting when editing versus when viewing the cell
I played with the formatting and found that enabled LTR (Left to right formatting) helped, at least made it usable to edit the cell.
However I found the solution for me was to change the font!! Somehow the font the problem cell had become formatted as MS Shell DG font (a font I can’t actually see in the font browser now).
Changing the cell’s font back to the default Calibri resolved the issue!
I’m running Version 1708 (Build 8431.2131 Click-to-Run)