checkout failed. P4: Sync Failed with options:

The workspace sync step started failing for all our cloud build projects yesterday.
It looks to correspond to changes made in how the UCB sync P4 workspaces based on what is being logged.
These are the before and after logs.

17: BVR: SCM Checkout
18: P4: Checking out Project…
19: P4: Logging in…
20: P4: Creating template client…
21: P4: Successfully created Template client: ML_ClientBuildRO-1264100599
22: P4: Server network estimates: files added/updated/deleted=33407/0/0, bytes added/updated=1673651779/0
23: P4: Running sync…
24: P4: Successfully synced at revision: 148729
25: P4: Deleting generated client ML_ClientBuildRO-1264100599…
26: P4: ML_ClientBuildRO-1264100599 deleted successfully
27: P4: Logging out…
28: P4: Checkout operation complete.
29: BVR: SCM Checkout completed in 81 seconds.

17: BVR: SCM Checkout
18: P4: Checking out Project…
19: P4: Requested revision: 148746
20: P4: Logging in…
21: P4: Creating template client…
22: P4: Successfully created Template client: ML_ClientBuildRO–1266331252
23: P4:
24: P4: Running sync…
25: P4: Deleting generated client ML_ClientBuildRO–1266331252…
26: P4: ML_ClientBuildRO–1266331252 deleted successfully
27: P4: Logging out…
28: ! checkout failed. P4: Sync Failed with options: @148746
29: Build failed. Please check the log for further details.
30: Using /BUILD_PATH/.rvm/gems/ruby-2.4.2
31: postbuildsteps finished successfully
32: postbuildstatus finished successfully.
33: Finished: FAILURE

This issue was fixed by an update to cloud build yesterday

This issue has started to occur again for our mainline UCB builds with the same error in the log as @dirty-rectangle posted above (latest version below).

Has the fix to UCB that fixed this issue before been rolled back?

22: BVR: SCM Checkout
23: P4: Checking out Project…
24: P4: Logging in…
25: P4: Creating template client…
26: P4: Successfully created Template client: ML_ClientBuildRO–489575801
27: P4: Server network estimates: files added/updated/deleted=40185/0/0, bytes added/updated=2135786379/0
28: P4: Running sync…
29: P4: Deleting generated client ML_ClientBuildRO–489575801…
30: P4: ML_ClientBuildRO–489575801 deleted successfully
31: P4: Logging out…
32: ! checkout failed. P4: Warning: Failed to get changes
33: Build failed. Please check the log for further details.
34: Using /BUILD_PATH/.rvm/gems/ruby-2.4.2
35: postbuildsteps finished successfully
36: postbuildstatus finished successfully.
37: Finished: FAILURE