Unable To Restore From Time Machine Backup

Hoping somebody can help me work through the below, Apple themselves were at a loss with the situation and have unfortunately been unable to help.

I’m a producer running a 2019 15” MBP and have just completed an OS update from Monterey 12.2 > 12.3. Post-update, I’ve been unable to use some of my host applications and a variety of third-party VST/VSTi’s. In the past, this issue has been easily resolved by rolling back to a previous TM back up and postponing updates until developers catch up with Apple. Unfortunately when trying to complete a backup on Monterey 12.3, however, I’m unable to do so.

When trying to restore from the desired back-up the “Restore” button is greyed out:

Note: I back-up TM to an external hard drive and can still access these back-ups from its original location. 

I’ve tried to boycott this issue by completing the following:

• Restarting in Recovery Mode to restore from TM - same issue.
• Restarting in Recovery Mode and re-installing the OS, followed by a restore from TM - same issue.
• Booting from Safe Mode to restore from TM - same issue.

After some finessing, in Finder, whilst in the back-up location I can launch TM and manipulate it to allow a restore from its location, when navigating through, however, I receive the following prompt:

“The enclosing folder no longer exists in its original location” and I am promoted to either re-create in enclosed folders or choose a new location.

I’ve tried to choose a new location and I receive error saying the operation is not supported and when re-creating in enclosed folders, literally nothing happens.

Any ideas?