Generic Error on updating opportunity status by a team member with full access

Summary:

Business user with full access to the opportunity is trying to update the status and gets a very generic error saying 'Save failed'. The user has the right privileges and data security policies.

We have recently moved to Redwood and did not encounter any such error previously. The issue does not replicate in Test.

Has anybody else faced a similar issue after moving to Redwood?

Version:

24B