pg_restore causing ENOSPACE on the WAL partition

Hello list,

last night I got ENOSPACE on the WAL partition while running a huge
pg_restore on an empty and idle database.
The checkpoint that started 7 minutes earlier never finished:

04:31:09 LOG: checkpoint starting: wal
...
04:38:04 PANIC: could not write to file "pg_wal/xlogtemp.546204": No space left on device
:CONTEXT: COPY table_partition_123, line 120872534

This is most likely because most of the data is written to a very slow
"archival" tablespace. No I/O errors on the system logs, I know things go
slow on that device (iSCSI drive over a shared spinning-disks pool and
busy network).

This happened even though I'm keeping the WAL in its own partition (128GB
partition size), with a lot of free space above max_wal_size (64GB).
Somehow it managed to grow above max_wal_size and fill 100% of the
partition.

I'm running latest PostgreSQL 17 and the settings have been temporarily
tweaked for fastest pg_restore:

max_wal_size=64GB
max_replication_slots = 0
max_logical_replication_workers = 0
max_wal_senders = 0
wal_level = minimal
autovacuum = off

Several things seem to have gone wrong here. Questions:

+ The WAL partition is much faster than the archival tablespace. Am I in
constant danger of overruning max_wal_size? How to make 100% sure this
never happens again?

+ After recovery, with the database idling, I notice that WAL space usage
is constant at 64GB. Why doesn't it free up space down to min_wal_size (1GB)?

+ I just created a 13GB zstd-compressed tarball of those 64GB WAL
files. This indicates that the files are compressible despite using
wal_compression=zstd setting. Could it be that postgres ignores the flag
and does not compress the WAL? How to check?

+ I'm using parallel pg_restore --data-only, can't avoid that for now.
Even though all the tables are empty (I truncated everything before
starting pg_restore), I can't find a way to avoid going through the WAL.
Ideas?

Thanks in advance,
Dimitris