Netplan is not setting up SRIOV Virtual Functions on Jammy Charmed OpenStack during boot

Trying to deploy Charmed OpenStack (Yoga) Jammy series with OVN Hardware Offload.

# cat /etc/lsb-release
DISTRIB_ID=Ubuntu
DISTRIB_RELEASE=22.04
DISTRIB_CODENAME=jammy
DISTRIB_DESCRIPTION="Ubuntu 22.04 LTS"

# uname -a
Linux node3 5.15.0-35-generic #36-Ubuntu SMP Sat May 21 02:24:07 UTC 2022 x86_64 x86_64 x86_64 GNU/Linux

# cat /etc/openstack-release
OPENSTACK_CODENAME=yoga

As part of the charms bundle the following config is used:
 ovn-chassis:
    charm: ch:ovn-chassis
    # Please update the `bridge-interface-mappings` to values suitable for the
    # hardware used in your deployment. See the referenced documentation at the
    # top of this file.
    options:
      ovn-bridge-mappings: datacentre:br-ex
      bridge-interface-mappings: *data-port
      enable-hardware-offload: true
      sriov-numvfs: "ens1f1:8"
    channel: 22.03/stable
    bindings:
      "": *internal-space
      data: *overlay-space

This is translated to the following netplan file on the deployed node:
 cat /etc/netplan/150-charm-ovn.yaml
###############################################################################
# [ WARNING ]
# Configuration file maintained by Juju. Local changes may be overwritten.
# Config managed by ovn-chassis charm
###############################################################################
network:
  version: 2
  ethernets:
    ens1f1:
      virtual-function-count: 8
      embedded-switch-mode: switchdev
      delay-virtual-functions-rebind: true

However after reboot of the deployed servers, the SRIOV VFs are not enabled on the NVIDIA NIC:
# lspci | grep -i nox
08:00.0 Ethernet controller: Mellanox Technologies MT42822 BlueField-2 integrated ConnectX-6 Dx network controller
08:00.1 Ethernet controller: Mellanox Technologies MT42822 BlueField-2 integrated ConnectX-6 Dx network controller

When manually running the netplan, VFs are configured (and switch mode change is failing as the NIC is already bounded - I believe this is expected):

#netplan --debug apply
.
.
.
   ens1f1:
      delay-virtual-functions-rebind: true
      embedded-switch-mode: switchdev
      match:
        macaddress: 04:3f:72:9e:0b:a1
      mtu: 1500
      set-name: ens1f1
      virtual-function-count: 8
.
.
.

DEBUG:Found VFs of 0000:08:00.1: ['0000:08:02.3', '0000:08:02.4', '0000:08:02.5', '0000:08:02.6', '0000:08:02.7', '0000:08:03.0', '0000:08:03.1', '0000:08:03.2']
Error: mlx5_core: Can't change mode, E-Switch is busy.
kernel answers: Device or resource busy
Traceback (most recent call last):
  File "/usr/sbin/netplan", line 23, in <module>
    netplan.main()
  File "/usr/share/netplan/netplan/cli/core.py", line 50, in main
    self.run_command()
  File "/usr/share/netplan/netplan/cli/utils.py", line 247, in run_command
    self.func()
  File "/usr/share/netplan/netplan/cli/commands/apply.py", line 61, in run
    self.run_command()
  File "/usr/share/netplan/netplan/cli/utils.py", line 247, in run_command
    self.func()
  File "/usr/share/netplan/netplan/cli/commands/apply.py", line 245, in command_apply
    NetplanApply.process_sriov_config(config_manager, exit_on_error)
  File "/usr/share/netplan/netplan/cli/commands/apply.py", line 376, in process_sriov_config
    apply_sriov_config(config_manager)
  File "/usr/share/netplan/netplan/cli/sriov.py", line 492, in apply_sriov_config
    pcidev.devlink_set('eswitch', 'mode', eswitch_mode)
  File "/usr/share/netplan/netplan/cli/sriov.py", line 143, in devlink_set
    subprocess.check_call(
  File "/usr/lib/python3.10/subprocess.py", line 369, in check_call
    raise CalledProcessError(retcode, cmd)
subprocess.CalledProcessError: Command '['/sbin/devlink', 'dev', 'eswitch', 'set', 'pci/0000:08:00.1', 'mode', 'switchdev']' returned non-zero exit status 1.
root@node3:/home/ubuntu#

# lspci | grep -i nox
08:00.0 Ethernet controller: Mellanox Technologies MT42822 BlueField-2 integrated ConnectX-6 Dx network controller
08:00.1 Ethernet controller: Mellanox Technologies MT42822 BlueField-2 integrated ConnectX-6 Dx network controller
08:00.2 DMA controller: Mellanox Technologies MT42822 BlueField-2 SoC Management Interface
08:02.3 Ethernet controller: Mellanox Technologies ConnectX Family mlx5Gen Virtual Function
08:02.4 Ethernet controller: Mellanox Technologies ConnectX Family mlx5Gen Virtual Function
08:02.5 Ethernet controller: Mellanox Technologies ConnectX Family mlx5Gen Virtual Function
08:02.6 Ethernet controller: Mellanox Technologies ConnectX Family mlx5Gen Virtual Function
08:02.7 Ethernet controller: Mellanox Technologies ConnectX Family mlx5Gen Virtual Function
08:03.0 Ethernet controller: Mellanox Technologies ConnectX Family mlx5Gen Virtual Function
08:03.1 Ethernet controller: Mellanox Technologies ConnectX Family mlx5Gen Virtual Function
08:03.2 Ethernet controller: Mellanox Technologies ConnectX Family mlx5Gen Virtual Function