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Custom theme not working after upgrading 2.4.2 to 2.4.3-p3

After updating to version 2.4.3-p3 our custom theme isn’t working anymore.
The theme has the default Luma theme as parent.
After generating static content it does generate the custom theme files (can see theme at pub/static/frontend/< vendor >/< theme >).

Design settings show that the custom theme is selected (Content -> configuration), however on the frontend the Luma theme is displayed, in stead of the custom child theme.
All files are loaded from /frontend/Magento/Luma.

Cleared the caches:
rm -rf var/cache/*
rm -rf var/page_cache/*
rm -rf generated/code/*

No errors during the static content deployment, or in the system.log, anywhere else I should look?