Upon notification, Service was immediately rolled back to prevent further disruption, thus resolving the incident.
After careful investigation, the core issue was found and resolved, allowing for the update to go through without incurring in further downtime.
Apologies for the inconvenience!

Complex Data Transformation Services like Connected Services, Data Sources and Custom Functions experienced downtime in the form of invalid HTTP 422 responses in valid operations thanks to a malformed interaction between a legacy configuration and a new update.
Regular Data Transformation was not affected by this issue.