Also just ran into this issue. Torch rises until it looses arc. 45xp, machine torch all software updated. Nothing changed since previously this day when it worked fine.
Ground looks fine and can’t find any loose cables, THC test checks out.
This seems to be an issue which some people run into but when I skim through the posts now I can’t seem to see any solution or cause for that matter.
How did all you guys who experienced this solve the problem?