When I play it in PIE, it plays fine.
This problem does not occur in 4.25.4.
1. Open NewMap.umap of the attached project.
2. Open NewLevelSequence.
3. Set Cube as the Lookat of CineCameraActor and CineCameraActor2.
4. Camera Cuts does not preview correctly when scrubbing.
There's no existing public thread on this issue, so head over to Questions & Answers just mention UE-108509 in the post.