Unable to hide LoadingSpinner indicator in panel v1.2.1, v1.2.0 works fine

The below code will show and then hide the LoadingSpinner indicator under Panel V 1.2.0, but under Panel 1.2.1, the LoadingSpinner is never shown

When creating a widget with visible=False, setting .visible to True doesn’t reveal the widget. The below code works under panel v 1.2.0 as expected - it reveals the spinner, sleeps for 5 seconds, and then hides the spinner. Looking at the javascript console when the script is executed under panel v1.2.0, the css style “:host { display: none !important; }” is applied at the start, is removed when I click the submit button and .visible is set to true, and then added back once .visible is set to false

import panel as pn
import logging
import bokeh
import time
logger = logging.getLogger('panel.tifviewer')
pn.extension(sizing_mode='stretch_width') #stretch_width


load_and_display_spinner = pn.indicators.LoadingSpinner(value=False, height=100, width=100, visible=False)                      
submit = pn.widgets.Button(name='submit', button_type='primary')
main_ui = pn.Column(
                    pn.pane.Markdown(f'## my panel version is {pn.__version__}'),

tabs = pn.Tabs(
    ('app', main_ui),

def load_display(spinner, x):
    print(f"spinner is {spinner}")
    print(f'switch is {x}')
    if (x == 'on'):
        spinner.value = True
        spinner.visible = True
    if (x == 'off'):
        spinner.value = False
        spinner.visible = False

def do_some_task(event):
    load_display(load_and_display_spinner, 'on')
    load_display(load_and_display_spinner, 'off')