Anonymous user seeing "An Error Occurred" on first visit without exceptions logged

In our upgrade test to 12.1.1.20482, in a private browsing window to test Anonymous user experience, the user sees the An Error Occurred notification but no exceptions are logged.

I've noticed that I can't impersonate the Anonymous user account to collect any traces.

The only clue I have is that there are two browser console errors:

  1. XHR POST siteurl/api.ashx/v2/cfs/temporary.json?UploadContextId={GUID} fails with a 403 Forbidden response
  2. XML Parsing Error on same temporary.json file at line 1, column 1 reporting no root element found
    1. When looking at the file, it appears to be a version of the source code for the home page but missing a number of elements
    2. It also is most definitely not a JSON file which explains why the parsing error occurs.

Any thoughts on how to track down what's throwing the error? Definitely don't want the first visit experience for an anonymous visitor to be an error message.