@Suty I've done a bit more search and found another thread on this forum that actually has the fix: https://community.windy.com/post/122223
When setting the gfx.color_management.mode option to 1 this causes the bug. Resetting it to 2 (the default) fixes it. It's not really ideal to disable that given it's needed for colour accurate rendering.
I'm not sure why that thread didn't show up when I searched before.
Thanks for your assistance.