Costing value set with security enabled causes payroll costing to error

Summary:

When the cost allocation key flexfield uses a value set with security enabled, the payroll costing errors because it cannot access the value set

Content (please ensure you mask any confidential information):

When defining the Cost Allocation Key Flexfield to configure payroll costing, each segment has a value set associated with it. For various reasons in our build, the GL setup in the ERP side has security enabled on the value set for particular segments.

Usual practice would be to use the same segment value set on the payroll side as on the ERP side. But when we do this, and calculate payroll, the payroll costing errors, saying "FLEX-VALUE DOES NOT EXIST {VALUESET}=…." The values we are referencing are definitely in the value set. If we disable the security on the value set, payroll costing completes normally.