Is Sequencer in Play Mode Broken in 5.4?

Hey all,

UPDATE

Actually appears like Sequencer is totally broken in play mode, completely, not just the below question. All tracks don’t play back in play mode in editor.

So strange…

Original Post

Thanks for any help with this. This appears to be broken in 5.4 or something has dramatically changed from 5.3. This issue is consistent with the 5.4.1 update

Easy test:

1) Create a new level sequence
2) Add a cinecam with a camera cuts track
3) Enter Play mode (not simulate)
4) You will not be able to view through or possess/pilot the Cinecam. 

Spawnable cinecams do not spawn in play mode. Persistent level cameras are there in the world outliner but you can't posses them.

To be clear - they still render but you can't enter play mode in the editor.

Anyone else experiencing this?