This bug appears on PS EU right now. It was experienced from me and multiple other players from my guilds. It happened on PS4 and PS5-consoles.
You get randomly logged out during gameplay and after logging in again, you find yourself at a previous position ingame and every progress from there to your actual bugged-logout-spot is hard-resettet. I just had the biggest backup of about 15 Minutes (!) of gameplay. I'll upload a video from this bug later after my raid is finished.
This bug also un-does quests if you completed them during the backup-timespan, loot gets removed again from you and basically everything you did during this period.
For me its the 2nd reset during 2 days, other players reported from up to 5 resets.