In First Amendment jurisprudence, there is a very specific bar as to when government involvement becomes unconstitutional coercive state action. That bar requires direction from the government and a (potentially implicit) threat of government action or retaliation if compliance is not met. Bellyaching about what a company or individual doing doesn't meet that bar, otherwise pretty much every single congressional hearing would be illegal.
As far as I'm aware, no one has yet produced any evidence that the US government reached that bar with respect to Twitter. There's definitely been several lawsuits that have attempted to allege this--and some where the judges tried to push the plaintiffs to actually properly allege this--but nothing has ever stuck, primarily because everyone filing these suits seem to think that the government looking in a social media company's direction somehow makes it automatically a First Amendment violation.
Whether or not the involvement documented rises to the level of a 1A violation is an interesting legal question but ultimately not the one that I'm primarily concerned with.
The question I care about is: is the government taking a direct and active role in censoring online speech? The answer is a clear yes, and nobody is really disputing it. I find the arguments here ("well twitter helped", "it wasn't technically illegal") to be very weak defenses. Paid employees of federal agencies should not be involved in the moderation processes of social media companies.
And as far as the legal question is concerned, so far federal courts have ruled that the government's actions do in fact violate the first amendment:
> he court found that some of the communications between the federal government and the social media companies to try to fight alleged COVID-19 misinformation "coerced or significantly encouraged social media platforms to moderate content", which violated the First Amendment.[21]
So I do stand corrected there, although I will note that the Fifth Circus is a poor guide to understanding the First Amendment. Indeed, if you take two of its relevant decisions that are currently being appealed before SCOTUS, it believes that it is a First Amendment violation for the US government to talk to you about your moderation policies, but it is not a First Amendment violation for Texas to talk to you about your moderation policies (or we'll sue you if you don't want to listen to us).
As far as I'm aware, no one has yet produced any evidence that the US government reached that bar with respect to Twitter. There's definitely been several lawsuits that have attempted to allege this--and some where the judges tried to push the plaintiffs to actually properly allege this--but nothing has ever stuck, primarily because everyone filing these suits seem to think that the government looking in a social media company's direction somehow makes it automatically a First Amendment violation.