This happens because the selection is anti-aliased and alpha blending between the semi-transparent pixels (like those that result from anti-aliasing) does not resolve to a fully opaque pixel.
In After Effects you can use the ‘Alpha Add’ blend mode to fix problems like this but that’s not available in Photoshop.
The easy solution is to uncheck ‘anti-alias’ from the selection tool.
However, my recommendation would be to duplicate the full base layer and use a layer mask instead of using Layer Via Cut. If you save your selection you can use it for the layer mask. You can copy the layer mask to the lower base layer and invert it. To remove the anti-aliasing overlap issue you can then select the top layer’s layer mask and use Filter > Other > Maximum with a radius of 1. This will expand the mask by 1 pixel.
Darby Edelen