there's no Y level where rclicking a bottle converts it into a cloud in a bottle.
furthermore, you can try placing the cloud off world.. dunno if this is actually important tho.

Can't reproduce in dev, was able to create a cloud in a bottle at y-194 (default is between 191 and 196)
as an aside maybe this should only work in the overworld or tagged/config'd dimensions? lol
@LeoBeliik can you elaborate on "you can try placing the cloud off world"?

Hm, yes it works, I don't know if it was fixed or I had other problem on my instance, but yes you can get cloud in a bottle on the latest alpha.
As by placing it off world, if you right click a cloud in a bottle above or below the world build limit, you void the cloud, as I said dunno how important is.
As a note: picking and placing a cloud doesn't make any noise, maybe it should make the same as the picking water/breath?