The fix for `coreos-assembler:rhcos-4.8` landed in https://github.com/coreos/coreos-assembler/pull/2729 I've confirmed latest machine-os-content images for all arches that were pushed to Quay are in the v2s2 format.
Change status to VERIFIED according to Comment 4 and Comment 5
Since the problem described in this bug report should be resolved in a recent advisory, it has been closed with a resolution of ERRATA. For information on the advisory (OpenShift Container Platform 4.8.34 bug fix update), and where to find the updated files, follow the link below. If the solution does not work for you, open a new bug report. https://access.redhat.com/errata/RHBA-2022:0795