(Feel free to update this bug's summary to be more specific.)
Component Readiness has found a potential regression in the following test:

[sig-auth][Feature:ProjectAPI]  TestProjectWatch should succeed [apigroup:project.openshift.io][apigroup:authorization.openshift.io][apigroup:user.openshift.io] [Suite:openshift/conformance/parallel]

Significant regression detected.
Fishers Exact probability of a regression: 99.99%.
Test pass rate dropped from 100.00% to 92.16%.

Sample (being evaluated) Release: 4.19
Start Time: 2025-06-09T00:00:00Z
End Time: 2025-06-16T08:00:00Z
Success Rate: 92.16%
Successes: 47
Failures: 4
Flakes: 0

Base (historical) Release: 4.18
Start Time: 2025-01-26T00:00:00Z
End Time: 2025-02-25T23:59:59Z
Success Rate: 100.00%
Successes: 126
Failures: 0
Flakes: 1

View the test details report for additional context.

This test has been acting up a lot in 4.19, at times it seemed to be caught up in the chaos of https://issues.redhat.com/browse/OCPBUGS-56281 in which case you'd see this fail in the intervals chart at the same time high cpu alerts were firing for the control plane. Typically it would retry later and be logged as a flake.

However in this current batch of issues, I don't see high cpu alerts firing.

Examples:

https://sippy.dptools.openshift.org/sippy-ng/job_runs/1934241078035091456/periodic-ci-openshift-release-master-nightly-4.19-upgrade-from-stable-4.18-e2e-metal-ipi-upgrade-ovn-ipv6/intervals?end=2025-06-15T17%3A28%3A00Z&filterText=&intervalFile=e2e-timelines_spyglass_20250615-163133.json&overrideDisplayFlag=0&selectedSources=OperatorAvailable&selectedSources=OperatorProgressing&selectedSources=OperatorDegraded&selectedSources=KubeletLog&selectedSources=EtcdLog&selectedSources=EtcdLeadership&selectedSources=Alert&selectedSources=Disruption&selectedSources=E2EFailed&selectedSources=APIServerGracefulShutdown&selectedSources=KubeEvent&selectedSources=NodeState&start=2025-06-15T13%3A51%3A04Z

https://sippy.dptools.openshift.org/sippy-ng/job_runs/1934089761899679744/periodic-ci-openshift-release-master-nightly-4.19-upgrade-from-stable-4.18-e2e-metal-ipi-ovn-upgrade/intervals?end=2025-06-15T06%3A58%3A59Z&filterText=&intervalFile=e2e-timelines_spyglass_20250615-060205.json&overrideDisplayFlag=0&selectedSources=OperatorAvailable&selectedSources=OperatorProgressing&selectedSources=OperatorDegraded&selectedSources=KubeletLog&selectedSources=EtcdLog&selectedSources=EtcdLeadership&selectedSources=Alert&selectedSources=Disruption&selectedSources=E2EFailed&selectedSources=APIServerGracefulShutdown&selectedSources=KubeEvent&selectedSources=NodeState&start=2025-06-15T03%3A44%3A31Z

So the key questions here are:

1. Is this exposing a product issue or does it appear to be a test issue?
2. What can be done to stabilize the test?

This test looked more stable in 4.18 for some reason and is now failing 5-10% of the time.