Assuming that the mouse pointer is parallel to the display and that a light themes is used, the visual click zone is positioned below and to the right of the upper left corner.
E: correct content
E₂ (correction): The visual click zone should be more than 1 px², but it’s not misaligned.
But the cursor ‘dropping’ wouldn’t move it to where the shadow is? The light source is not directly above the cursor so the shadow is offset.