Google has begun enforcing its EU User Consent Policy by disabling conversion tracking, remarketing, and both personalized and non-personalized ads for non-compliant advertisers.
Affected advertisers have received notices confirming enforcement action due to missing Consent Mode v2 implementation.

As of July 21, EU traffic is no longer tracked unless valid consent is captured and communicated via Consent Mode.
To regain functionality, advertisers must update their implementation and submit this compliance form or reach out to euucp-escalations@google.com.
This news was shared by Adriaan Dekker.