Pat Horridge:

I presume Avids line is that if a 3rd party emulates Nexis then it will work (because it works with Nexis) if the 3rd party storage isn't emulating nexis completely or accuratley then it won't work as required.

Of course, but OP and others indicate it was working normally with 2021.12. That suggests the problem is not at the storage side. Of course I can't prove that but that is besides the point.

Assuming the 'we don't support 3rd party storage' is a quote from the email received from support, this support policy is in conflict with a feature present in Media composer. And as Jason writes:

Jason Sedmak:

if Avid ends up taking this stance

the consequences are such that I consider further clarification mandatory.

The decision to include the setting 'Enable bin sharing on 3rd party storage emulating Avid NEXIS/ISIS' when several of the 3rd party manufacturers learned how to emulate Nexis (legally or not) can't be ignored by support. And instead of relentlessly searching for unsupported aspects in customer systems when things fail after an upgrade, support could also engage with several of their valued customers and integrators, including storage, on how to correctly handle integration related bugs.

Hi again,

I have just tried with an SNS EVO Storage and I got the same issue with 2022.4. Downgraded to 2021.12.2 and everything was ok.

[:'(]

Hope this bug will be fixed soon.

This is only a Mac-based issue (I verified it myself) therefore I am hopeful that this will be a bug that will be remedied (I've received a loose confirmation from Avid this is so). For now, yes, stay with 2012.12.2. There should be no ill effects opening projects that were open or created in 2022.4. 
Fingers crossed,

j 

dharia:

Thanks this might be a bug that has to be addressed quick because it could impact lots of users.

It was a bug and has been fixed with Media Composer 2022.7. My initial tests went well.

UPDATE:

Avid has fixed this bug in the latest release! (2022.7)

Thank you!

J