I don't really see it as a form of cyber bullying but regardless, if someone acts or speaks in an unacceptable manner I want to know about it, I don't want them shut down.
Cancelling anything simply pushes it underground and makes it more dangerous. It's better in my mind to confront it head on, have a conversation about it and try to reach a consensus.
I think people are oversensitive. In reality, who cares what other people think? In fact, how others behave is only important in close-quarter situations like work or school. Anyway, it's very important there. Well, for instance, and sorry to use an extreme example, but see how in prison gang activity is related to protection from thieves and sexual predators.
As far as Cancel Culture doesn't involve any form of harassment, it is not cyber bullying. Ideally, cancel Culture is a way to hold people accountable.