Before the update to 12.23 the performance condition showed up about 6-12min after i started a run. Sometimes it took up to 20min but always I received an alert about my performance condition and it was possible to view the actual value in a data field.
I use a non garmin chest strap, but i used it already before the update and there were never problems with the performance condition.
Since the update the notification during the run dont shows up anymore, the data field during the run stays empty and in the training overview in garmin connect it looks very strange :