Smart date recurring formatter and layout builder

Problem/Motivation

Drupal 9.5.9
Smart date 4.0.2

I am having some strange issues with the Smart date recurring formatter only applying the template to certain nodes and am a bit stuck trying to debug the issue.

I am currently using layout builder to manage the display of my nodes and views to display them. All my view modes have the same settings of using the recurring formatter, force chronological, showing 2 upcoming instances and also show next instance separately.

The nodes which have a recur rule all work as expected however the nodes which simply have multiple date values are acting strange. On the full view of the node it works as expected (looks the same as the nodes with the recur rule) however within the view it just simply outputting all the dates in a list unless it is the first node output within the view.

To put simply the date formatter doesn’t apply if the node is using layout builder and is not the first node rendered within a view. Tested without layout builder and it worked fine.

I really am not sure where to go from here if it is something someone with more knowledge of how the formatter works could point me in the right direction or advise me if this is possibly a bug with the formatter?

Steps to reproduce

Node with dates field with multiple date values entered, not a recur rule.
Manage the view mode with layout builder.
Display this view mode within a view that shows multiple nodes and this not being the first node.

Proposed resolution

Remaining tasks

User interface changes

API changes

Data model changes