nRF9160 modem: Not reconnecting to network after reset

After several resets of an application (Either soft-resets or reprogramming) the nRF9160 will fail to connect back onto the network.
Currently using v1.3.4, but this issue also occurred on v1.3.3

LTE_LC_EVT_NW_REG_STATUS will happen with LTE_LC_NW_REG_SEARCHING, followed by LTE_LC_EVT_CELL_UPDATE with a valid cell.
However LTE_LC_EVT_RRC_UPDATE never occurs. Under normal operation RRC_UPDATE occurs a few hundred milliseconds after CELL_UPDATE.

Additional resets of the the application do not bring the modem back to an operational state.
A hard power cycle brings the application back immediately.

Attached is a modem trace at level NRF_MODEM_LIB_TRACE_ALL of when this issue is occurring.
This was triggered by letting the watchdog expire on the application after 1 minute several times in a row.

modem_trace_1674798274.bin

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