How to reproduce:
1. Open the “IN-86341_repro“ project
2. Open the “Scene“
3. Double-click on the “Timeline“ asset
4. Select “PlayableDirector“ in the Hierarchy
5. In the Timeline window select Preview
6. Enter Play Mode and observe the Game view

Expected result: The “DemoModel“ GameObject is moving
Actual result: The “DemoModel“ GameObject is still

Reproducible with: 1.7.6, 1.8.7 (2022.3.50f1, 6000.0.23f1)
Not reproducible with: 1.8.7 (2021.3.45f1)

Reproducible on: Windows 10
Not reproducible on: No other environment tested

Notes:
- Also reproducible after entering and exiting Preview
- Re-entering the Play mode after the issue will play the animation
- Could not find the FAV due to an error in some of the versions