I have been investigating this issue for several weeks because I experienced exactly the same Ghost Touch problem on my iPad Air 5 (M1), especially while charging during Infinite Flight.
At first I suspected a defective cable or charger. I replaced a cheap USB-C cable with a high-quality Anker cable and also replaced my multi-port Baseus charger with a single-port Anker Nano II 65W charger. The problem became significantly less frequent, but it did not disappear completely.
I then purchased a USB-C power analyzer (YOJOCK KWS-X1) and measured voltage, current, charging protocols and ripple (VPP) under different charging conditions.
Both chargers produced stable voltages and reasonably low ripple values. Under light load the ripple was typically around 40-70 mV, while under heavy load (Infinite Flight) it increased temporarily to around 100-200 mV, with occasional higher peaks during rapid load changes. Nothing looked obviously defective.
The interesting part came from observing when Ghost Touch actually appeared.
After many tests I discovered that the problem almost completely disappears if I avoid touching the metal shell of the USB-C connector while the iPad is charging.
Short accidental contact does not usually trigger anything. However, if my finger rests on the metal connector for several seconds, or repeatedly touches it while using the iPad, Ghost Touch starts appearing. As soon as I stop touching the connector, the display usually returns to normal within seconds without restarting the iPad.
Even charging all the way to 100% is no longer a problem as long as I never touch the connector housing.
This made me wonder whether the issue is related to capacitive coupling rather than charging power itself.
Modern touchscreens are extremely sensitive capacitive sensors. If the USB connector has an anodized metal shell (which is electrically insulated by a very thin oxide layer), my finger and the connector may effectively form a tiny capacitor. Combined with the charging electronics, this could slightly change the electrical reference potential seen by the touchscreen controller.
I also considered static electricity. Sitting on an insulated fabric sofa can slowly charge the human body. Normally this is harmless, but while the iPad is connected to a charger, repeatedly touching the connector may allow small capacitive potential changes to couple into the system.
This is only a hypothesis, but it matches every observation much better than a hardware defect in the display.
Interestingly, I have not experienced Ghost Touch anymore simply by holding the iPad differently: I now insert and remove the cable by holding the fabric-covered part of the cable instead of the connector, and I avoid resting my finger on the connector during charging.
Since many reports seem to come from Apple devices with capacitive touchscreens, it may be worth investigating whether certain charging conditions, grounding, or capacitive coupling between the user, charger and USB-C connector can influence the touch controller.
I hope these observations help narrow down the cause. Even if my hypothesis turns out to be wrong, the behaviour is highly repeatable on my device and may provide useful clues for further investigation.