Player 2 Profile Disappears

Playing Minecraft splitscreen co-op on gamepass, on a world Player 1 created. Player 2 has also played in this world for months and has several achievements and a lot of gear. Then after the most recent Minecraft update, Player 2 no longer exists when logging in Player 1 first, which is what normally happens. Now, Player 2 appears as a new player with virtually nothing. I've tried hard and soft resets, logging in then logging out both Players 1 and 2, etc. This problem has occasionally happened before but always cleared with an exit from the game, restarting the game and both logging in again. This is happening despite several attempts. Player 2 should be able to log back in and see profile restored. Also several recent posts on Microsoft communities have also identified this as an issue see thread that's growing