The 2F temperature sender is oriented vertically which traps an air pocket around it. If there’s any frothing going on inside the cooling system from the water pump chewing up bubbles, those micro bubbles will migrate everywhere in the cooling system and coalesce in trapped pockets. The space around the temperature sender is one of those pockets.
When enough air finds its way around the gap surrounding the sensor, as new micro bubbles join in, the sensor ends up being completely out of the coolant. It’s not touching coolant at all. It’s dry.
At that point the sensor is then measuring the temperature through its threads screwed into the adapter fitting screwed into the head. It’s measuring the actual cast iron temperature, not the temperature of the coolant which is always cooler.
The 3F engine fixed this problem by having the temperature sender installed sideways in the thermostat housing. It doesn’t trap air and measures the same temperature the thermostat gets.
If the thermostat housing cap is removed on a full system, only an air bubble will form on the top half of the housing when it’s sealed back up. This area will purge directly to the radiator even in a cold engine, so none of that air should get sucked back into the water pump (I think)