New Chromium update breaks AV1 decoding

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Description of the issue:
The latest version of brave v1.80.113 with chromium version 138.0.7204.49 completely destroys the AV1 decoding capabilities of the brave browser, causing stuttering and extreme lag/framedrops on e.g. YouTube.
How can this issue be reproduced?

  1. Play youtube video
  2. stuttering
  3. optional: check brave://media-internals
  4. log shows repeated DECODER_UNDERFLOW events—i.e. the AV1 hardware decoder isn’t keeping up and starving the playback pipeline.

Expected result:
Youtube should play flawlessly with adequate Graphical power + internet connection
Brave Version( check About Brave):
v1.80.113
Additional Information:
GPU: NVIDIA RTX 4070 Super
Internet: >500mbps
Other browsers (Chrome) show no lag
Brave beta shows no lag

LOGS:

00.457 pipeline_state kPlaying
00:00:00.460 info D3D11VideoDecoder config change: profile: av1 profile main, chroma_sampling_format: 4:2:0, coded_size: 1920x1080, bit_depth: 8, color_space: {primary=1, transfer=1, matrix=1, range=1}
00:00:00.460 info D3D11VideoDecoder is using av1 profile main / 4:2:0
00:00:00.460 info D3D11VideoDecoder producing NV12
00:00:00.460 info D3D11VideoDecoder: Selected NV12
00:00:00.460 info D3D11VideoDecoder is binding textures
00:00:00.460 info D3D11VideoDecoder is using D3D11 backend
00:00:00.462 info D3D11VideoDecoder is using single textures
00:00:00.644 dimensions 1920x1080
00:00:00.644 kResolution 1920x1080
00:00:00.315 duration 1259.301
00:00:00.644 pipeline_buffering_state {for_suspended_start:false,state:BUFFERING_HAVE_ENOUGH}
00:00:00.325 event kPlay
00:00:09.829 video_buffering_state {state:BUFFERING_HAVE_ENOUGH}
00:00:10.744 video_buffering_state {reason:DECODER_UNDERFLOW,state:BUFFERING_HAVE_NOTHING}
00:00:10.947 video_buffering_state {state:BUFFERING_HAVE_ENOUGH}
00:00:14.577 video_buffering_state {reason:DECODER_UNDERFLOW,state:BUFFERING_HAVE_NOTHING}
00:00:15.108 seek_target 591.686196
00:00:15.108 pipeline_state kSeeking
00:00:15.329 pipeline_state kPlaying
00:00:15.461 pipeline_buffering_state {for_suspended_start:false,state:BUFFERING_HAVE_ENOUGH}
00:00:15.111 event kPlay
00:00:15.037 event kPause
00:00:16.982 video_buffering_state {reason:DECODER_UNDERFLOW,state:BUFFERING_HAVE_NOTHING}
00:00:19.983 pipeline_buffering_state {for_suspended_start:false,reason:DECODER_UNDERFLOW,state:BUFFERING_HAVE_NOTHING}
00:00:20.747 video_buffering_state {reason:DECODER_UNDERFLOW,state:BUFFERING_HAVE_NOTHING}
00:00:23.295 event kPause
00:00:23.368 video_buffering_state {state:BUFFERING_HAVE_ENOUGH}
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