I received a Racing 3 and Shamal Ultra from a customer.
Other than a slightly larger center deviation on the Shamal Ultra rear wheel,
there was just the kind of runout you'd expect from normal use.
Since the Shamal Ultra rear wheel was losing air somewhat quickly with its tubeless tire,
I tried things like replacing the valve core.
The hub bearing adjustment felt good,
but on both the Racing 3 and Shamal Ultra,
the right reverse-threaded end nut on the rear hub came loose by hand.
The lockring face looks shaved, but it's not — I shaved it myself a while back.
With the Campagnolo 11-speed sprocket and freehub body,
the lockring and hub right end are very close to being flush.
Combined with the frame's rear derailleur hanger shape,
when I fixed the rear wheel, the lockring interfered with the frame end,
so I shaved down the lockring face.
（I fill a tray with water, lay down waterproof sandpaper, and sand it
the same way you'd use a whetstone to mark ink.
For some reason, this creates a pattern that looks like
the rotor shape in a Wankel rotary engine...）
Since the wheel (rear hub), sprocket, and lockring are all
original parts, the interference problem is on the frame side,
but if you're having similar issues, feel free to try this.
Another option is to swap in a thinner lockring,
but good ones are hard to find.
About the only one is the Mavic ED11 lockring.
Other than a slightly larger center deviation on the Shamal Ultra rear wheel,
there was just the kind of runout you'd expect from normal use.
Since the Shamal Ultra rear wheel was losing air somewhat quickly with its tubeless tire,
I tried things like replacing the valve core.
The hub bearing adjustment felt good,
but on both the Racing 3 and Shamal Ultra,
the right reverse-threaded end nut on the rear hub came loose by hand.
The lockring face looks shaved, but it's not — I shaved it myself a while back.
With the Campagnolo 11-speed sprocket and freehub body,
the lockring and hub right end are very close to being flush.
Combined with the frame's rear derailleur hanger shape,
when I fixed the rear wheel, the lockring interfered with the frame end,
so I shaved down the lockring face.
（I fill a tray with water, lay down waterproof sandpaper, and sand it
the same way you'd use a whetstone to mark ink.
For some reason, this creates a pattern that looks like
the rotor shape in a Wankel rotary engine...）
Since the wheel (rear hub), sprocket, and lockring are all
original parts, the interference problem is on the frame side,
but if you're having similar issues, feel free to try this.
Another option is to swap in a thinner lockring,
but good ones are hard to find.
About the only one is the Mavic ED11 lockring.