I logged into my spouse's Realms account on the Nintendo Switch for the first time. My inventory was there, I was happy, but when I saved and exited and logged in via the Xbox One my inventory was gone. Confirmed by logging back into the Switch and my iPad.
This affected my Ender chest as well (where I keep all my enchanted bows, picks, axe, etc. Trained dogs don't stand from sitting anymore either.
I suspect my Realms ID changed when I logged in via the Switch. I'm sure my inventory is still "there", just inaccessible. A similar thing happened in the past before I had an Ender chest around 1.4.0 but I lost far less (no Ender chest or enchanted tools) and besides starting at world spawn and loosing personal inventory my trained dogs weren't responding.
Looking through other open issues, this is likely related to MCPE-33152 where pets no longer respond to commands due to the ownerID being reset on the player but not on pets or inventory.
Answering the above questions in my case:
The issue occurred on Realms following the 1.5.0 update
Affected users were logged into Xbox Live on all platforms
Inventory went missing after switching platforms (Switch to Xbox).
This issue also occurred following the 1.4.0 update when I switched from the Xbox One to the iOS version but, since I had switched between both in the past with no ill effects, attributed it to the update itself and considered it minor.
It was only after having a large set of enchanted items in an Ender Chest (and the trauma of killing 20 dogs that no longer responded to commands) that this became a real issue for me.
Think of those poor dogs that had to be put down 😞