Note, that this is not a Java specific problem, it can occur with other programs as well. "No such file or directory" is just the nice description for ENOENT, which can occur in a lot of syscalls. I typically just run the program through strace, then you will quickly see what the program did.

For those interested, I did a breakdown of the hashbang: https://blog.foletta.net/post/2021-04-19-what-the/

Also be aware that kernel support for shebangs depends on CONFIG_BINFMT_SCRIPT=y being in the kernel config.