Still didn’t get it to work yet.
But I noticed that when I create an Image Texture with 4096 x 4096 in 3.4 (or 3.5), Save the File and Open it in 3.3 (or earlier), the said Image Texture suddenly has a resolution of 1024 x 1024. (That was what threw me off in my early answer, when I thought the Baking worked in 3.3)
This doesn’t happen when I create the Texture in 3.3 (or earlier) and Open it in any other Version.
