I cannot rebase oslo.utils to 3.35.1 because this issue is not marked as a blocker issue. Since the issue only impacts log in DEBUG mode, I don't think that it deserves to block the release. It can wait for a z-stream release. If you disagree, please mark the issue as a blocker, so I can do the rebase :-)
Since that bug requires a fix in both python-oslo-utils and openstack-keystone, I have just clone it [1] to track the python-oslo-utils fix in a dedicated bz.
[1] https://bugzilla.redhat.com/show_bug.cgi?id=1612890