Comment by _kst_

UUID v7 relies on knowing what time it is.

Speculation: The most likely scenario for a UUID v7 collision is if UUIDs are generated during a system boot sequence, before the system clock is set to the current time. It's always 1970 somewhere. There are still 62 random bits, and optionally another 12 random bits, but those too could be problematic if the system hasn't generated enough entropy yet.