Emulator

What's the problem? Describe what went wrong.

In the Dolphin Wiimote settings.
I usually have to switch back and forth between using a real wiimote connected via bluetooth (NOT passthrough) and emulating a wiimote (mouse and keyboard), since I don't have a infrared bar mounted on my monitor and can't point with the real wiimote.

Switching from emulated wiimote to real wiimote, the wiimote does not reconnect and the game says it has lost connection to the wiimote.

To fix this, you first have to change the setting "no wiimote" and then to "real wiimote", which seems like an unnecessary extra step and likely a bug.

What steps will reproduce the problem?

Play wii game of your choice. connect wiimote via a bluetooth dongle. Play with "real wiimote". Switch input in controller settings to emulated wii-mote and use your mouse and keyboard.
Switch back to "real wiimote" -> OSD message wiimote disconnected, game alerts on lost connection.

To fix, do as explained above.

Is the issue present in the latest development version? For future reference, please also write down the version number of the latest development version.

Yes. 5.0-11707

Possible idea to fully circumvent this

Setting to enable "virtual infrared bar", which just uses the gyro data of the real wiimote to emulate the pointing behaviour, as it is possible with ps4 controllers.