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Magento 2.4.8 – Checkout page latency after upgrade from 2.4.6-p3

After upgrading our store from Magento 2.4.6-p3 to Magento 2.4.8, the checkout page takes noticeably longer to load (~3–4 seconds slower than before).

We’re using the following stack:

Magento: 2.4.8 (Open Source)
PHP: 8.4
Redis: 7.2
Varnish: 7.3
MySQL: 8.0.36
Elasticsearch: 8.11

Caching and indexing are configured properly, and there are no visible errors in var/log/ or browser console.
FPC and Redis caching are enabled, and the same configuration worked fine on 2.4.6-p3.

Has anyone experienced checkout performance degradation after upgrading to Magento 2.4.8, and are there any known cache or dependency changes that affect checkout rendering?