In the linked posts from the main meta site, it says:
The new indicator works by the age of a user's first visible post.
This could be a question or answer, and the association bonus won't influence the behavior. While you might not be new to our engine, everyone is new when they first join a new community, so the indicator is shown.
A literal reading of this is that a user is "new" as long as their oldest visible post on a particular SE site is less than $N$ days old (according to this post on the main meta, $N=7$). In the case of the cited user, their first visible activity on MSE appears to be an answer which they posted on the 15th of September (four days ago). Yes, their account has existed for more than two years, but they have not been visibly active during that time (they may have deleted questions or answers).
More details regarding the workings of the "New Contributor" label can be found in answers to this question on the main meta (thank you, Martin Sleziak, for finding this post).