Appreciate all of the feedback and your help.
Some context.... I am a graphic designer for my organisation and I was building templates for our staff use.
"the issue you have raised to us is still on-going" - I assume so failing toggling the preserve master flag. See the problem is that I expected that PowerPoint would not delete my work without a prompt with the result being an uncoverable one.
"try saving as a PowerPoint Template (.potx) instead" - does not make a difference to the functionality of the app and the problem persists.
"Disable AutoSave" - for me I lost work trying this method as the deletion occurs before the save... deletes then saves.
"Use "Save As" Instead of Overwriting' - is a work around not a solution. This will work to recover a back up but any subsequent work is lost. The unpredictable nature of the app to purge masters makes this method untenable.
"Repair Office Installation" - this is a work computer and I do not have admin rights to this functionality. As we outsource our IT this will probably cost us $200+ as a fix.
"Check for Updates" - did not know this was a thing. We have a tenant license for Microsoft 365 and I assumed this will happen discretely or clearly notified like the Windows updates. I haven't tested since I updated.
"Test on Another Device" - I haven't attempted this.
My approach was to split the many masters, I had 20, into separate template files. This seemed to lessen the amount of deletions ppt would do and made for any loss tolerable.