ping -I lo loses packets 100% in RHEL8.2

Issue

• ping -I lo <IP on some other interfaces> loses packets 100%.

# ping -c 2 -I lo 10.0.0.1
ping: Warning: source address might be selected on device other than lo.
PING 10.0.0.1 (10.0.0.1) from 10.0.0.1 lo: 56(84) bytes of data.
^C (no response)
--- 10.0.0.1 ping statistics ---
2 packets transmitted, 0 received, 100% packet loss, time 37ms