MacBook power button wake from sleep bug

I recently purchased an M4 MacBook Air. It seems to be having an issue, when the device is sleeping and I click the power button to wake it, the device wakes up and unlocks then goes right back to sleep. So all that happens is I get a flash of my desktop before the screen goes black again, this only happens when using the power button to wake the device.

initial I thought I had a faulty power button on my Mac, but after chatting to another friend which an M2 MacBook Pro (Touch Bar), I found out he’s also experiencing the same issue, likely pointing to a software bug.

Does anyone know of a fix for this issue?