Apple Pencil 2nd Generation Drains iPad Pro Battery

I have the Apple Pencil 2nd Generation and the M2 iPad Pro 11".

Over the last month the Pencil, purchased in July 2023, has been draining the iPad battery at a high rate.

Did some basic testing and noticed the following:

If I charge the iPad overnight with Pencil attached the iPad battery is 100% and the Pencil 98% in the morning.

If I leave the Pencil unattached to the iPad, after about 10 hours the iPad (With limited use) has dropped to 98%, the Pencil has dropped to 20% it has not been touched or moved.

Now if I attach the Pencil to the iPad it starts charging quickly and charges back up to 98% 99%.

The iPad looses about 2% battery.

But what happens now is that the Pencil always shows charging and fluctuates at either 98% or 99%, but the iPad starts to loose about 10% battery each hour.

If I detach the Pencil then the iPad battery seems to go back to normal.

It seems that the Pencil has some battery issue?

I do have AppleCare+ on the iPad which I think covers the Pencil as well.

Are Pencils repaired or just replaced?