ADDITIONAL SYSTEM INFORMATION :
Java:

java version "11.0.7" 2020-04-14 LTS
Java(TM) SE Runtime Environment 18.9 (build 11.0.7+8-LTS)
Java HotSpot(TM) 64-Bit Server VM 18.9 (build 11.0.7+8-LTS, mixed mode)

Linux:
Linux e6540 4.15.0-20-generic #21-Ubuntu SMP Tue Apr 24 06:16:15 UTC 2018 x86_64 x86_64 x86_64 GNU/Linux

A DESCRIPTION OF THE PROBLEM :
Executing a shebang file with --class-path argument with Oracle JDK 11.0.7 leads to an error.
Executing a shebang file with --class-path argument with Oracle JDK 14.0.1 works as expected.

See examples below.

#!/usr/bin/java --source 11 --class-path include.jar

public class ShebangExample {
    public static void main(String[] args){
        System.out.println("Works!");
    }
}

STEPS TO FOLLOW TO REPRODUCE THE PROBLEM :
Executing a shebang file with --class-path argument with Oracle JDK 11.0.7 leads to an error

michael@e6540:/tmp/tmp.XXnDbSFhzk$ ls -l
total 144
-rwxr-xr-x 1 michael michael 194 Apr 14 22:58 example-11.sh
-rwxr-xr-x 1 michael michael 194 Apr 14 22:59 example-14.sh
-rw-r--r-- 1 michael michael 136837 Apr 14 22:59 include.jar
michael@e6540:/tmp/tmp.XXnDbSFhzk$ cat example-11.sh
#!/usr/lib/jvm/jdk-11.0.7/bin/java --source 11 --class-path include.jar

public class ShebangExample {
    public static void main(String[] args){
        System.out.println("Works!");
    }
}

michael@e6540:/tmp/tmp.XXnDbSFhzk$ ./example-11.sh
Error: Could not find or load main class ..example-11.sh
Caused by: java.lang.ClassNotFoundException: //example-11/sh
michael@e6540:/tmp/tmp.XXnDbSFhzk$

EXPECTED VERSUS ACTUAL BEHAVIOR :
EXPECTED -
Executing a shebang file with --class-path argument with Oracle JDK 14.0.1 works as expected

michael@e6540:/tmp/tmp.XXnDbSFhzk$ ls -l
total 144
-rwxr-xr-x 1 michael michael 194 Apr 14 22:58 example-11.sh
-rwxr-xr-x 1 michael michael 194 Apr 14 23:02 example-14.sh
-rw-r--r-- 1 michael michael 136837 Apr 14 22:59 include.jar
michael@e6540:/tmp/tmp.XXnDbSFhzk$ cat ./example-14.sh
#!/usr/lib/jvm/jdk-14.0.1/bin/java --source 11 --class-path include.jar

public class ShebangExample {
    public static void main(String[] args){
        System.out.println("Works!");
    }
}

michael@e6540:/tmp/tmp.XXnDbSFhzk$ ./example-14.sh
Works!
michael@e6540:/tmp/tmp.XXnDbSFhzk$
ACTUAL -
Error: Could not find or load main class ..example-11.sh
Caused by: java.lang.ClassNotFoundException: //example-11/sh

FREQUENCY : always