Tick storm or high rate of timer interrupts on nohz and isolated CPU cores

Issue

In some cases the rate of timer IRQs increases to a very high value on nohz CPU cores which are also sometimes isolated. The issue resolves on itself after a while. Sometimes it repeats.
The high rate of timer interrupts, which may be called a tick storm, introduces a latency in applications spinning on nohz isolated CPUs which most likely negatively affects the performance or workload.