(Maya) References with Windows paths get silently ignored

[kanzwataru]

In Maya, a scene with other scene files referenced in will not render correctly. Objects from the reference file do not show up. Using a UNC network path works fine, but a local Windows-style drive letter path does not. Textures seem to be picked up just fine even with Windows paths now, but not referenced scenes.

I have attached a little test project which demonstrates both cases.
"BNC_0010_referenced.ma" -> All assets are referenced (completely blank render)
"BNC_0010_direct.ma" -> All assets are directly in the scene (shows up fine, including textures)

WindowsPathsProj.zip