🇦🇺Australia RedTop
I updated to Drupal 10.1.7 today from Drupal 9.5.11 and encountered the same issue, albeit without any terms or filtering applied. We are ordering for Newest First and using the Media Library within an Paragraph. The Media Library widget Form is Paged. Items on the first page seem to work ok (limited testing - it's late at night at time of posting).
As stated by by issue poster, flushing the cache fixed the issue (for now).
I haven't had time to do any more digging but wanted to post asap as this issue seems wider than just related to filtering by terms.