I'm using a mac with Photoshop version 23.0 but opening a file that was saved as a previous version of Photoshop.
When I select (using Move tool) an existing vector smart object (1st yellow rectangle) and click CMD + T to transform, it adjusts the scale from 100% W&H to W921% H1948% (purple rectangle). Then when I change this back to 100% the smart object gets moved to the center of the canvas (yellow rectangles below are before/after). I need the scale and placement to stay the same, all I was trying to do was rotate the shape some and it's devolved into these issues.
I realized through trying to fix this that there is another related issue happening. The smart object is set up like this (screenshot) in Illustrator with a no stroke/no fill path to assist in placing the vector smart object correctly in Photoshop. Photoshop no longer seems to be recognizing this no stroke/no fill path. I had undone everything and started with the original file thinking I could open the smart object and rotate the shape inside it. But I realized that even if I JUST opened the smart object in Illustrator saving it with NO changes, Photoshop moved it still (the same way as yellow rectangles above).