ESP32S3 Non Volatile Storage Issue

[IanKibblewhite]

I am migrating an application from ESP32 to the ESP32S3. The application stores a few bytes in non-volatile storage but the nvs is not working when change platform to the ESP32S3.

The problem I am experiencing also occurs in the nvs example app, nvs_rw_value, which is simply storing a restart counter value. I'm using VS Code with esp-idf V4.4.1

On a standard ESP32-DevKitC-1 it works OK, with output:
Opening Non-Volatile Storage (NVS) handle... Done
Reading restart counter from NVS ... Done
Restart counter = 13
Updating restart counter in NVS ... Done
Committing updates in NVS ... Done

Changing device to the ESP32S3 (ESP32-S3-DevKitC-1-v1.1 with an ESP32-S3-WROOM-2 N32R8V) it's not able to store or retrieve the int32_t restart counter.
Opening Non-Volatile Storage (NVS) handle... Done
Reading restart counter from NVS ... The value is not initialized yet!
Updating restart counter in NVS ... Done
Committing updates in NVS ... Done

Erasing flash and different partition table settings in menuconfig don't make any difference. Here's the latest partition table generated (single factory app (large), no OTA):

[6/1080] Generating ../../partition_table/partition-table.bin
Partition table binary generated. Contents:
*******************************************************************************
# ESP-IDF Partition Table
# Name, Type, SubType, Offset, Size, Flags
nvs,data,nvs,0x9000,24K,
phy_init,data,phy,0xf000,4K,
factory,app,factory,0x10000,1500K,
*******************************************************************************

Any ideas?