This bug report is continuation of QTBUG-115166

User waited for the Qt 6.5.4 which had the fix applied. After testing it they informed:
"I have downloaded 6.5.4 and tried again a simple project with a QML module. Unfortunately the problem is not completely fixed, some dependencies are always considered not up to date.

You can use the files which are attached to https://bugreports.qt.io/browse/QTBUG-115166 - qtbug-115166.zip. Use cmake to generate a Visual Studio solution then run a build in Visual Studio 2 times without changing anything. The 2nd build should not build anything (maybe with exception of automoc see https://gitlab.kitware.com/cmake/cmake/-/issues/18749). Attaching new output file."