isValid and the form data are not in sync

[TonyVeigel]

As shown in this screenshot, the value in the field2 field is "a" so it should validate to true according to the validation. However, isValid is false several times before it switches to true. isValid and the formValue should be in sync. Or am I missing something?

https://codesandbox.io/s/serverless-wildflower-cd4rpr?file=/src/App.js