Themes uploaded through a POST to 'Theme' endpoint no longer generate assets

We encountered new behaviour from the Theme endpoint this morning. When we try to upload a theme by sending a POST request to the Theme endpoint (/admin/api/2021-07/themes.json), the theme uploads fine.

However, the generated assets within the theme are not created.

For example, the file assets/script.js.liquid does not create the corresponding assets/script.js. The file assets/style.css.liquid does not have assets/style.css generated.

As a result, the theme looks broken as any asset that needs to be compiled returns a 404.

Has anyone else experienced this issue? Can anyone from Shopify comment whether a change has been made to the Theme endpoint?

Update for anyone else with the same issue, Shopify support is currently working on a fix.

We were able to put together a temporary fix while we wait for the actual one. Making a change to a liquid-based JS or CSS file and doing a PUT to the Asset endpoint forces Shopify to generate the missing assets.