3” is plenty to get through 1 1/4 and then into joists.
Even if you marked your joists, they can be off slightly, bowed, you could be screwing it at an angle, etc. or, if you just measured them out, you could have joists that changed directions or where one was cut out and a plumbers box was built, etc.
So, if you have wood the entire way, that screw should keep going through that plywood and not stop until you do. If you don’t hit wood. it will start spinning and not pull tight.
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