Microsoft 365 features that help users manage their subscriptions, account settings, and billing information.
An individual in our tenant reported the symptoms of this problem to me, but it took some time before I could verify the problem, since none of my testing accounts manifest it. Then I found this thread, which has been helpful in establishing that our tenant is affected. (I reluctantly connected my own account to Thunderbird with IMAP.)
I have reported the problem to Microsoft through official channels, and they have confirmed that it is a bug. They stated today that there are changes coming to logging on their side that should help them identify the cause, but also that these improvements will not come until January. Here's to hoping!