I'm having the same issue with iTunes 12.8.2.3 on 10.11.6.
After speaking with Apple support, they acknowledged the problem is on their end and that engineering is aware and working on a solution.
Since this also affects more than just those of us on older versions of the OS, I hope this means we'll be getting a fix sooner.
My speculation is that something related to changes for macOS Catalina and/or iOS 13 made its way into production and triggers the problem we're seeing and perhaps the release of those OSes later this week will allow Apple to address the problem. *fingers crossed*