Taxonomy Does Not Query Post Type

I’ve run into this situation multiple times, it seems to happen sporadically, and I’m not sure why it happens.

# The Situation
I register my taxonomy before my post type. I log in, assign a term to my custom post, view the term archive page and the SQL generated by WP_Query includes all other post types except the one it’s actually assigned to. The custom taxonomy/post type is registered within the theme on init.

# Debugging
I’ve put the code into a MU plugin, enabled Twenty Nineteen, disabled all plugins, same situation. The generated SQL does not include the assigned post type. If I use pre_get_posts and manually assign the post type the query functions as expected.

# Example Code
As a MU Plugin:

/**
 * Create Taxonomies
 *
 * @return void
 */
function prefix_tax_init() {
	
	// Makes Categories
	register_taxonomy( 'tax_makes', array( 'cpt_cars' ), array(
		'labels'			=> $labels,
		'hierarchical'		=> true,
		'public'			=> true,
		'show_ui'			=> true,
		'show_admin_column'	=> true,
		'show_in_nav_menus'	=> true,
		'show_tagcloud'		=> false,
		'rewrite'			=> array( 'slug' => 'cars/make', 'hierarchical' => true, 'with_front' => false ),
	) );
	
}
add_action( 'init', 'prefix_tax_init' );

/**
 * Create Post Type
 *
 * @return void
 */
function prefix_cpt_init() {
	
	// Cars Custom Post Type
	register_post_type( 'cpt_cars', array(
		'labels' 				=> $labels,
		'taxonomies'			=> array( 'tax_makes' ),
		'public'				=> true, 
		'publicly_queryable'	=> true,
		'exclude_from_search'	=>true,
		'show_ui' 				=> true, 
		'query_var' 			=> true,
		'show_in_nav_menus'		=> false,
		'capability_type' 		=> 'page',
		'hierarchical' 			=> false,
		'has_archive'			=> 'cars',
		'menu_position' 		=> 4,
		'rewrite'				=> array( 'slug' => 'cars/car', 'with_front' => false ),
		'supports' 				=> array( 'title', 'editor' )
	) );
	
}
add_action( 'init', 'prefix_cpt_init' );

# Example Query
This is what happens if I spit out $wp_query at the top of the template. It has the correct term, correct taxonomy, correct taxonomy ID but it just does not include the post type:

SELECT SQL_CALC_FOUND_ROWS 
wp_posts.ID FROM wp_posts
LEFT JOIN wp_term_relationships ON (wp_posts.ID = wp_term_relationships.object_id)
WHERE 1=1 AND
( wp_term_relationships.term_taxonomy_id IN (13) ) AND
wp_posts.post_type IN ('post', 'page', 'attachment') AND 
(wp_posts.post_status = 'publish' OR wp_posts.post_author = 1 AND wp_posts.post_status = 'private')
GROUP BY wp_posts.ID
ORDER BY wp_posts.post_date DESC 
LIMIT 0, 10

– – – – – – – – –

Am I missing something on the registration? Is init not the best hook for registering new types? I’m open to suggestions on what may cause this.