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From what I understand, RBAC for Applications primarily controls which mailbox scopes an application can access, rather than the level of calendar details returned by getSchedule.
If the subject and location properties are being returned, it could indicate that the effective free/busy visibility for those calendars is greater than AvailabilityOnly.
To further investigate, could you please verify the following:
The output of Get-MailboxFolderPermission -Identity user@domain:\Calendar for one of the affected users.
Whether the organizer mailbox has any additional delegated permissions, Full Access permissions, administrative roles, or other elevated access that could influence the results.
Whether the application has any Microsoft Graph application permissions, such as Calendars.Read or Calendars.ReadWrite, that have been consented in Entra ID.
Please check these items and let me know the results. Any update would be appreciated.