Security Rules causing issue in Fixed Assets (R12.2.3)

Hi Experts

Customer has upgraded from R12.0.4 to R12.2.3,  After Upgrade Asset Key LOV is not returning any values from asset entry form although values were already defined for the same.

Security rules have been enabled on Asset Key Segment.

Following workarounds were provided by FA team

1. Setup -> Flexfield -> Key -> Segment : Uncheck the Dynamic Insert option for Asset Key Segment.
2. Setup -> Flexfield -> Key -> Security -> Assign : Remove the security rules.

Although both of the above solutions are resolving our issue & customers able to view Asset Key LOV. But these solutions are not acceptable by the client since these were working fine in 12.0.