Thanks for your bug report. I just tested this on Libera.Chat and was unable to reproduce this issue.
I set Libera.Chat to login using nickserv. When I connect, I can see the nickserv login being sent the moment the Welcome message is received from the server. mIRC waits for a reply from nickserv, confirming that I have been identified, before the join on connect is triggered and the channel is joined.
I recall we looked into this issue
here some time ago and that the above behaviour was implemented at the time.
Can you provide a step by step method that reproduces this issue for you?