Authorize.net Error code 33 with missing billing address

Using the latest versions of Civi core (5.48.2), Authnet (2.4.3) and MJW Shared (1.2.3), Authorize.net rejected the transactions with the following error,

33: Bill To Address is required., 33: Bill To City is required., 33: Bill To State/Province is required., 33: Bill To Zip/Postal Code is required.

The payload here didn't include the billing address. (I've redacted the sensitive information.)

x_response_code=3&x_response_reason_code=33&x_response_reason_text=Bill+To+Address+is+required%2E&x_avs_code=P&x_auth_code=&x_trans_id=0&x_method=CC&x_card_type=CARD_TYPE&x_account_number=XXXX&x_first_name=Joseph&x_last_name=Lacey&x_company=&x_address=&x_city=&x_state=&x_zip=&x_country=US&x_phone=&x_fax=&x_email=XXXX&x_invoice_num=XXXX&x_description=XXXX&x_type=auth%5Fcapture&x_cust_id=XXXX&x_ship_to_first_name=&x_ship_to_last_name=&x_ship_to_company=&x_ship_to_address=&x_ship_to_city=&x_ship_to_state=&x_ship_to_zip=&x_ship_to_country=&x_amount=XXXX&x_tax=XXXX&x_duty=XXXX&x_freight=XXXX&x_tax_exempt=FALSE&x_po_num=&x_MD5_Hash=&x_SHA2_Hash=XXXX&x_cvv2_resp_code=&x_cavv_response=&x_test_request=false&x_customer_type=individual&

We downgraded to know working versions Civi core (5.46.3), Authnet (2.4) and MJW Shared (1.2.1) and everything submits successfully without any other changes. Any thoughts on what might be causing the issue with the latest versions?