Screenshots should say it all, I guess? One is the actual frame and one is the preview how it should be. The actual frame is inside a Epic BG in case that matters.

Actual Raid Frame:
https://i.imgur.com/Q9fZ8OY.png

How it should be and how it's displayed in Indicator Preview:
https://i.imgur.com/fq4PHtJ.jpeg

After further testing, could it be possible that the profile did not properly switch from my usual party configuration to the raid configuration? As targeted by spell etc. are also offset. As it seems the positioning matches my usual party/dungeon profile.

However frame size and position did switch properly?

Frame with offset targeted by spell:
https://i.imgur.com/CUnxwYd.png

Party layout profile:
https://i.imgur.com/mIC0iO1.jpeg