Maybe this explain it to you..
from Release Notes:
- After updating to macOS Catalina 10.15 Beta 7 or later, iCloud Drive might synchronize for an extended period of time. If you notice any missing files, they can be found inside a Recovered Files folder in your home folder. (54046219)
- Even when Optimize Storage is switched off, iCloud Drive might fail to automatically download all files. (50667204)Workaround: Download files individually.
My issue is the files aren't there to download individually. I was hoping to avoid a full reformat, but since we're at GM now I suppose I'll just wait for release and format and see if that fixes it.