Hi @rockfire
Thanks kindly for your response, we managed to resolve this issue eventually and it turned out to be caused by the WP REST API plugin being enabled in our project. After disabling that plugin we stopped seeing the cache entries expiring immediately while still being able to use the redis plugin. I imagine this was caused by that legacy plugin working somehow differently to how the WP core REST API does now?
For anyone who experiences a similar issue the redis plugin we use was this one.