Checked with the latest oc client, the issue has fixed:

[root@localhost ~]#  oc projects
You have access to the following projects and can switch between them with ' project <projectname>':

    zhouyt
  * zhouyt2

Using project "zhouyt2" on server "https://api.jwei.qe.devcluster.openshift.com:6443".
[root@localhost ~]#  oc project zhouyt
Now using project "zhouyt" on server "https://api.jwei.qe.devcluster.openshift.com:6443".
[root@localhost ~]# cat /root/.kube/config 
apiVersion: v1
clusters:
- cluster:
    insecure-skip-tls-verify: true
    server: https://api.jwei.qe.devcluster.openshift.com:6443
  name: api-jwei-qe-devcluster-openshift-com:6443
contexts:
- context:
    cluster: api-jwei-qe-devcluster-openshift-com:6443
    user: testuser-39/api-jwei-qe-devcluster-openshift-com:6443
  name: /api-jwei-qe-devcluster-openshift-com:6443/testuser-39
- context:
    cluster: api-jwei-qe-devcluster-openshift-com:6443
    namespace: zhouyt
    user: testuser-39/api-jwei-qe-devcluster-openshift-com:6443
  name: zhouyt/api-jwei-qe-devcluster-openshift-com:6443/testuser-39
- context:
    cluster: api-jwei-qe-devcluster-openshift-com:6443
    namespace: zhouyt2
    user: testuser-39/api-jwei-qe-devcluster-openshift-com:6443
  name: zhouyt2/api-jwei-qe-devcluster-openshift-com:6443/testuser-39
current-context: zhouyt/api-jwei-qe-devcluster-openshift-com:6443/testuser-39
kind: Config
preferences: {}
users:
- name: testuser-39/api-jwei-qe-devcluster-openshift-com:6443
  user:
    exec:
      apiVersion: client.authentication.k8s.io/v1beta1
      args:
      - /root/.kube/my-token
      command: bash
      env: null
      provideClusterInfo: false
[root@localhost ~]# oc version --client 
Client Version: 4.7.0-202106232349.p0.git.3ac4b96-3ac4b96

Since the problem described in this bug report should be
resolved in a recent advisory, it has been closed with a
resolution of ERRATA.

For information on the advisory (OpenShift Container Platform 4.7.19 bug fix update), and where to find the updated
files, follow the link below.

If the solution does not work for you, open a new bug report.

https://access.redhat.com/errata/RHBA-2021:2554