Ok so I wanted to loop back here to put more information out there.
Like KimSBok, this troublesome phone I have is also an iPhone 8 Plus, and it is also on AldiMobile.
Just to set the record straight...my wife and my daughter are on Aldi Mobile (Telstra Wholesale), and I am on Telstra proper.
After more testing last night and today - here is what I've discovered.
Yesterday when the battery was below 70%, the phone would not establish a connection to the mobile network. The phone could not call out and nobody could call it.
I did as suggested regarding the "weak battery" and plugged the phone in and let it charge up. After the phone got to 90% and plugged in, it was able to establish a call! I let the phone charge up to 100% and we ran a dozen or more tests last night.
iPhone 8 to my phone - it called but took a very long time to connect.
My phone to iPhone 8 was also successful but took a very long time to connect. A few times the call timed out, and after the call had ended on my phone, that's when the iPhone 8 started to ring.
iPhone 8 to my wife's iPhone 15 (Aldi to Aldi) - the call connected normally (within a few seconds)
iPhone 15 to iPhone 8 - again with success
We then unplugged the phone and kept trying to make calls, and again it was successful but at times, unreliable. We then left the phone off charge all night. In the morning the phone had only dropped to 95%, and again was still able to call my phone and my wife's phone successfully.
My daughter then took the phone to school and this afternoon, was unable to make calls again. It should be noted that SMS text messages are also not working. Most of the time they timed out, but every now and then one got through.
This evening, I check the phone again and it's at 54% battery. It makes a successful call to my phone once, and also to my wife's iPhone 15. I then try to call it from my phone and the call fails.
What I've been able to conclude from this is it is 100% an issue with the iPhone 8. The phone is able to connect to the network and establish a voice connection. Therefore I don't think this is a carrier issue. It seems to be a problem with the phone itself. Whether that problem is caused by the software update or this is just a coincidence with a hardware fault I don't know.
Long story short - I think we will just need to put this phone into recycling and sort out another one.