The timer initially displays the incorrect time if the actual wait duration is longer than 99 seconds. A normal wait appears to be around 5 minutes; in order to switch servers, you'll need to let that time elapse in full. If you reconnect (possibly to a different server) during the wait, your visible timer will be updated with the remaining time, up to a maximum of 99 seconds. This is why it often seems as though you need to wait for two rounds of 99 seconds to elapse, plus an extra minute or so.

Noclipping zombies are what make DayZ awesome.

Issue still exists in 0.46.

Workaround 1: Play in windowed mode.
Workaround 2: Constantly right-click or middle-click as you move the mouse.

Decreasing the screen DPI setting is not an option for me. I'm using a 28" 4K display: if I don't have it set to at least 150% (144 DPI/PPI), I can't read anything.