Red Update Billing Address warning on all apple pay cards

I have been using Apple Pay with a variety of cards without issue since its inception. However for reasons unknown around a week or two ago, every single payment method has a big rad "Update Billing Address" on the Apple Pay popup from the bottom of the screen when I try to use it. The only exception is my Apple Credit card, which works as expected (which is interesting to note as it stores it's Billing Address differently), but all other Credit Cards and my Apple Cash card display this warning.

If I go to Settings -> Wallet -> Shipping Address then the correct address, the one I have had for 3 years, is still listed correctly as it always has been.

If I pick ANY card from the wallet and tap the 3 dots and go to Card Details, under Billing Address is the correct address I have always had on file for them for the last 3 years as well. (This address is pulled from my contacts list entry flagged as "me".)

I *can* edit in a new address here manually, which is functionally a copy of my correct address and assign it, and this will work for a handful of times for an indeterminate amount of time, and then sudden will begin appearing with the same red error message, until I assigned the original address from my contacts list to the card, and then swap back to the manual one, at which point it works again for a limited time.

My Apple Watch cards however, continue to work with zero issue.

Troubleshooting I have tried so far:

• I have tried removing the cards from the wallet and re-adding them, but this has no change on the behavior.
• I have tired restarting the phone, and this has no change.
• I have installed the iOS 17 update this morning to upgrade from 16.x, and this has had no change.