It really sucks that this is being disregarded. I completed agree - this DID work in Windows 11, but something has changed.
In Win11 Settings on my laptop, it will detect the front facing camera and USB-connected camera (Microsoft LifeCam). Within OBS, I have a scene that is connected to the MS LifeCam, and it works. Teams, WebEx and Zoom will show the OBS virtual camera - although sometimes it stops working - the video image is black. However, in Windows Settings, it doesn't show OBS as a 'Connected camera' - but it used to. And it used to work very well with all apps.
The Win11 native Camera app will show the 2 cameras (Front facing on laptop, and USB LifeCam), but it does not show the OBS Virtual Camera. I'm guessing a Windows 11 update has broken at least a portion of the OBS Virtual Camera - because it doesn't show in the Settings, but yet it does show in some of the apps (...just not reliably).