What version of Hugo are you using (hugo version)?

$ hugo version
hugo v0.147.8+extended+withdeploy linux/amd64 BuildDate=unknown

Does this issue reproduce with the latest release?

Yes

I have a shortcode called "include" which I'm using to pull in a shared info box that I include on multiple articles:

{{ $path := "" }}
{{ $markdown := false }}
{{ if .IsNamedParams }}
    {{ $path = .Get "path" }}
    {{ with .Get "markdown" }}
        {{ $markdown = . }}
    {{ end }}
{{ else }}
    {{ $path = .Get 0 }}
{{ end }}

{{ with ($path | readFile) }}
    {{ if $markdown }}
        {{ $path | readFile | $.Page.RenderString (dict "display" "block") }}
    {{ else }}
        {{ $path | readFile }}
    {{ end }}
{{ else }}
    {{ errorf "file not found: %s" $path }}
{{ end }}

It seems that when using hugo serve, modifying the file that's being passed to readFile (the shared snippet) doesn't trigger a rerender and I have to restart the Hugo server entirely.