ID 431201 - Channel Swizzling with UDIM tiles render incorrectly in 14.0v1

Problem summary
Channel Swizzling with UDIM tiles render incorrectly in 14.0v1

Customer reported version
modo.14.0v1

Customer reported platform
windows10

Steps to reproduce

1) Download and open the attached scene file notice that it's being rendered incorrectly.

Expected behaviour

UDIM tiles should render correctly.

Actual behaviour

UDIM tiles render incorrectly. 

Workaround
Unknown.

Reproduced by support

This bug has been reproduced in:
14.0v1 - Windows 10 -regression

Unable to reproduce bug in:
13.2v1 - Windows 10 

Earliest version tested
13.2v1 - This issue doesn't appear in this version and has regressed.