Embedded Course presentation content disappears after upgrade

Not sure if this is H5P or Moodle issue, but here it goes:

1. Create a course presentation.
2. Take the embed code.
3. Paste the embed code to a course page in Moodle (in HTML editing mode).
4. Environment (Moodle/Totara) is upgraded, along with the Interactive content activity.
5. Embedded Course presentations are no longer accessible in the upgraded version. This applies to both admin and learner users.

Learner sees an error message "You do not have access to this content. Try logging in" (when the exact same content is visible in the original environment). They are able to see the Course presentation when it's used directly from the H5P activity, just the embedding has the problem.

Problem was found on desktop, not mobile.
Browsers: Firefox 68.0, IE11.1987, Chrome 76.0

Upgrade from Moodle version 3.2.9 to Moodle version: 3.3.9 
(Using Totara version: 11.8. -> 12.8)
H5P version: upgrade from 2019031301 to 2019081600

Thanks and regards,