I just spent a while speaking to a senior adviser. They are aware of the problem and the engineering team is currently trying to determine whether it is software or hardware related. They offered to replace my phone but said the replacement may experience the same issue until they determine the root cause, so it sounds like the best bet for now is to hang tight. They said it'd be 3-4 days before I'd hear back so I'll post an update when I know more.
Thanks for the update. Yeah, I just got mine replaced today and it has the same issue. So maybe waiting it out is the best thing. Please do let us know what they say in a few days. Appreciate your help.