I am a citizen of a Western country and moved out of Russia shortly after the start of the current large-scale military conflict despite having some unfinished business in Russia, and since then I've been closely monitoring news and social media to see how risky it is to return to Russia. Also, I grew up in Russia, am a native Russian speaker, and have a good understanding how things work there in general.
In short, my answer to your question is that I'd recommend refraining from the trip, unless all of the following is true:
You really need to go to Russia, and
You are not a dual citizen who has Russian citizenship, and
You are not of a particular interest (e.g., not a public figure), and
You are prepared to meticulously observe numerous personal safety precautions necessitated by the current situation in Russia, and
You are going to spend as few days in Russia as possible, and
You are not going to visit regions close to the combat areas, and
You have a clear purpose of your visit and can convincingly explain and evidence it when crossing the border, and
You fully understand the relevant custom and immigration rules, including the address reporting requirements, and are prepared to observe them to the letter, and
You have not written any anti-Russian or anti-Putin posts or articles under your real name.
I will now make a few points to explain things:
(1) What many Westerners do not realize about Russia is that in Russia you have an elevated risk of getting in the wrong place at the wrong time. Police may mistakenly take you for someone else and beat you up to make you admit to having done what they believe you did. You may get arrested for participating in an unlawful protest despite having just walked down the street. If you get ill, you may become a victim of terrible medical malpractice due to the doctor's negligence or bad skills. You may get mugged. You may get served food that will make you sick. There are really a multitude of possibilities of how things can go terribly wrong for you in Russia.
The current situation has made things even worse. Now you may be convicted just for a post contradicting the Russian narrative about the military conflict or criticizing Russia's actions - there is a fresh law about that. I haven't seen reports of this actually happening to foreigners - except that a Ukrainian living in Russia was fined about 500$ under that law - but the law doesn't differentiate between Russians and foreigners, so don't expect you are owed a special treatment by law. Also, many Russians believe what the Russian TV says, and some are hostile towards Americans as a result. A week ago a black man was severely beaten up in Saint Petersburg by people shouting, "You are American and those like you are killing our soldiers." Getting beaten by drunk people has always been a risk in Russia, but this risk may have increased as a result of many Russians experiencing economic hardship, losing jobs, and believing the anti-Western narrative.
(2) If you are a dual citizen who has Russian citizenship, you may be unable to leave Russia if Russia declares martial law during your visit. This doesn't seem very likely to occur soon, but is a widely discussed possibility.
(3) Russian border control officers pick travelers for detailed interviews and may demand unlocking your smartphone or a laptop. If they find anything suggesting you have anti-Russian or anti-Putin views, you may get in trouble. However, I've seen only reports about such searches happening to Russians leaving Russia, not foreigners entering Russia. Still, you have to be prepared for that and clean your devices of everything that might be deemed incriminating.
(4) You may get in trouble if you are suspected of having come to Russia to help ignite protests or with some other anti-government intent. The Russians may do truly terrible things to foreigners considered unfriendly to the current regime in Russia. Have a clear purpose of your visit to Russia and be ready to explain and evidence it.
(5) Since Russia has been essentially cut out of the Western financial system, you have to bring cash with you to cover your expenses in Russia. If your cash gets stolen, I don't know what you can do to cover your expenses in Russia. (A comment below says Bitcoin exchanges are still working, and another comment says a Union Pay card may work in Russia if you get one before you travel there.) Have at least a return ticket booked in advance.
(6) You have to carefully check the current custom and immigration rules and observe them to the letter. There have been changes since the start of the large-scale military conflict. In particular, now you can't take more than 10,000$ in cash out of Russia, no matter the currency. When I moved out of Russia, I was explicitly warned by the Russian customs that if they found any cash in excess of that, it would have to be seized. This restriction was introduced shortly after the start of the full-scale military conflict. Many rules remain as they were before, but their violations may be treated more seriously now, especially if you are from a country on the so-called Unfriendly Countries List.
(7) Most importantly, you should understand that since Russia is engaged in a large-scale military conflict, the situation in Russia may suddenly change at any time. Recall what happened in Kazakhstan at the beginning of this year - and Russia is going through something much more serious than a fuel price raise like the one that triggered mass violence in Kazakhstan.
That said, there have been no reports of mass arrests or detentions of foreigners in Russia so far, so it might be justifiable to take a short trip to Russia if you really have to and understand the risks outlined above.