Bounds center does NOT match the transform.position

InverseTransformPoint is not working for us. Always the same as worldSpace.
GameObject is translated and bounds center point never matches the GO position.
We tried sever RecalculateBounds on LOD and the Mesh. Nothing changes.

var localSpace = transform.InverseTransformPoint(new Vector3(x, y, z));
var worldSpace = transform.TransformPoint(new Vector3(x, y, z));

Vector3 worldPoint = transform.TransformPoint( LOCAL_POSITION )
is exactly the same as:

Vector3 worldPoint = transform.localToWorldMatrix.MultiplyPoint( LOCAL_POSITION )

Vector3 localPoint = transform.InverseTransformPoint( WORLD_POSITION )
is exactly the same as:

Vector3 localPoint = transform.localToWorldMatrix.inverse.MultiplyPoint( WORLD_POSITION )

If you have problem with TransformPoint, try the manual option.

The bug/design change is in 2019.4.4. We upgraded our 2018.4.3 build to 2019.4.4. Our buoyancy scripts broke due to the InversveTransfromPoint/TransformPoint not working.