Zy Zhen, Junxian Wang, and Keely and S.L. Finkelstein, who published their analysis in 2010 as “X-ray Properties of the z ~ 4.5 Lyα Emitters in the Chandra Deep Field South Region” The Astrophysical Journal 718(1):52, report an object of this designation is a quasar. Is this a misidentification?
It does not seem to be a misidentification. Here is something from the Abstract, "ABSTRACT We present the first detection of an X-ray flare from an ultracool dwarf of spectral class L. The event was identified in the EXTraS database of XMM-Newton variable sources, and its optical counterpart, J0331-27, was found through a cross-match with the Dark Energy Survey Year 3 release. Next to an earlier four-photon detection of Kelu-1, J0331-27 is only the second L dwarf detected in
X-rays, and much more distant than other ultracool dwarfs with X-ray detections (photometric distance of 240 pc). From an optical spectrum with the VIMOS instrument at the VLT, we determine the spectral type of J0331-27 to be L1. The X-ray flare has an energy of EX;F ~ 2 x 10^33 erg, placing it in the regime of superflares.",
https://ui.adsabs.harvard.edu/abs/2020arXiv200208078D/abstract
The spectrum shows it is an L dwarf star determined to be about 0.08 solar mass and 240 pc distance or about 783 light-years distance. The QSO you mention, z is 4.5. The cosmology calculators show this object is 12.369E+9 light-years look back time from Earth but comoving radial distance of nearly 25E+9 light-years distance using the cosmological redshift interpretation based upon the Big Bang expansion model.
http://www.astro.ucla.edu/~wright/CosmoCalc.html
An L dwarf star spectrum is not a QSO and the L dwarf is much closer to the solar system, based upon the published metrics.