Setting UIViewController preferredContentSize is broken in iOS 17

In iOS 17, I am having an issue where UIPopoverPresentationControllers are not retaining the preferred size of the UIViewController they contain.

The following method uses a UIPopoverPresentationController popoverVC to display a UIViewController contentVC from a UIView view anchor location frame.

+ (void) showDialogiPad:(UIViewController *)contentVC
       fromPresentingVC:(UIViewController *)presentingVC
                 inView:(UIView *)view
                atFrame:(CGRect)frame
          withDirection:(UIPopoverArrowDirection)direction {
    
    // Set content view controller size
    contentVC.preferredContentSize = contentVC.view.frame.size;
        
    // Choose the presentation style in which the content is
    // displayed in a popover view
    contentVC.modalPresentationStyle = UIModalPresentationPopover;

    // Get a popover presentation controller
    UIPopoverPresentationController *popoverVC = 
contentVC.popoverPresentationController; 
    
    // Set the popover size and anchor location
    contentVC.popoverPresentationController.sourceRect = frame;
    contentVC.popoverPresentationController.sourceView = view;
    
    // Set the arrow direction for the popover
    popoverVC.permittedArrowDirections = direction;
    
    // Present the popover presentation controller
    [presentingVC presentViewController:contentVC animated:YES completion:nil];
}

Prior to iOS 17, the code displayed the popover as expected as shown here:

The issue now however is since the update to iOS 17, the popover is now squashed and displayed as:

A few observations:

1. The popover dialog actually displays properly the first time you open it. Every subsequent time you open it, it is squashed.
2. When I comment out the line that sets the preferredContentSize, the popover opens at the max size every time - so it shows all the content but it is not set to the size I want it to be.
3. If I leave preferredContentSize as is but change modalPresentationStyle to UIModalPresentationFormSheet, the size of the popover is correct but the popover always presents in the middle of the screen.