Here is the written acknowledgement I just received of this being a global issue I got from MS:
My name is XXXX from the Microsoft 365 Support Team. Thank you for taking the time to speak with me regarding the issue with Entra Connect Health, referencing case number XXXXXXXXXX.
Below is a summary of the issue as discussed:
This is a known global issue on our end, and we sincerely apologize for any confusion or inconvenience this may have caused.
I’ve reviewed your tenant’s synchronization status and can confirm that both the Sync cycle and Password Hash Sync are running normally.
Our engineering team is actively investigating and working to mitigate a service incident related to the alerts you’re seeing for Password Hash Synchronization Heartbeat and Health Service Data Freshness.
The root cause was an Event Hub outage in the West US region, which resulted in data upload failures and false alerts across multiple tenants. The Event Hub resource has been scaled up to process the backlog of data, and false alerts raised during the outage period are being resolved. No customer data loss occurred during this incident.