peter Confirmed no master effects were added, issue still occurred.
@Damir - thanks for your reply to try and help, really appreciate it.
ISSUE RESOLVED:
This iPad was running on an old iOS version, 15.x, as I am always hesitant to upgrade versions for concerns of functionality issues occurring during gigs. As a last resort, I upgraded the version to the latest 18.1, reinstalled ST3, restored the full backup and playback is now normal and as expected once again.
One very critical thing I learned in this process is that ST3 stores its backup files in the same app directory as all the other files (eg. multitrack, PDF, etc). So, when you delete the app to reinstall, all the backup files are deleted as well. I’m sure this is how the iOS architecture is designed so no residual files remain after apps are deleted, but it’s important to know that you must move/copy-paste the backup files to a separate folder outside of the ST3 app directory before deleting the app or else it will be deleted along with it. Thankfully I duplicated the latest backup file outside the ST3 app directory before deleting, but I lost all previous backups. A good lesson learned here for me.
Thanks again!