Locking me out of the app when I select 'sign in with face ID next time'

Issue: I keep on getting prompted to input my PIN on opening the app. If I select ‘use face ID’ next time and enter in my PIN it tells me it’s incorrect. I do a PIN recovery only to find that the PIN that I’m using is correct. If I de-select ‘use face ID next time’ it signs me in no problem.

Details to reproduce:
OS: 26.5
Device: iPhone 16 Plus
App Version: 7.34.0

Delete app.

Restart iPhone.

Reinstall app.