I am not sure if this is a bug or some change to the OBJ format. So, I have a simple workflow of exporting out a high resolution OBJ from Metashape and then importing that in a third-party software for decimation. Using the latest version of the Metashape, the UVs are lost (or highly messed up) when the low resolution OBJ is imported back into the software. At first, I thought this was a problem in the third-party software. I used a legacy version of Photoscan (1.2) and the same model exported and imported properly. So, the problem doesn't appear to be my workflow.
I think something is broken on the import tool.