Export Original+Settings does not export the settings in the .XMP file, they appear all as 0

Issue: when trying to use export original+settings, the output files contain the raw file and the .xmp metadata, but for almost all the photos the develop settings part of the xmp file is set to 0 (as if I just imported the photo). Same happens for .DNG files that embed the develop settings inside.

Lightroom version: 7.5 arm64 [ 20240801-2320-5b173a1 ] and the same build number for x64 windows

macOS 15.0 Sequoia (also happened on 14 Sonoma) and Windows 11 x64

Steps to reproduce issue: select Export Original + Settings option, choose a destination and then either import files with ACR in Photoshop or use Lightroom Classic to verify that the files show up as having been edited but their edits are set to 0 in the develop panel (but in LR Cloud they show up correctly when viewing the target file).

Expected result: the Original (which comes out correctly) and the attached .XMP metadata file with the develop settings that were made in LR Cloud.

Actual result: original file (which is correct) and the attached .XMP file that has 0 set to all the develop settings, as if I just imported the photo and never done any work to it)

This feature was very useful to have (and can confirm it has worked brilliantly in the past with 0 errors).