I'm including the response from support below in its entirety; but the fix (for me) was this:
<telerik:RadEditor runat="server" ID="RadEditor1" StripFormattingOptions="Span, Css, MSWordRemoveAll" />
StripFormattingOptions="Span, Css, MSWordRemoveAll" tells RadEditor to remove inline <span> tags and CSS styles that browsers inject during editing or pasting. This keeps your stored HTML clean and prevents inconsistent formatting.
This is typically a browser behavior (especially Chromium-based browsers like Chrome and Edge) where the browser inherits or inserts inline styles from the parent page or content area into newly created elements — particularly when deleting and re-typing text. Here are some resources and approaches that may help:
<telerik:RadEditor runat="server" ID="RadEditor1"
StripFormattingOptions="Span, Css, MSWordRemoveAll" />
Regarding HTML encoding
RadEditor does not HTML-encode content by default. If you're seeing encoded entities (e.g., < instead of <), this is likely happening either during save/load from the database or due to a custom content filter.
Please also examine the dedicated article about: Appearance of Odd Characters After Saving RadEditor's Content In Database.