I see this on a VLP16 setup. Starting the driver with launch_hw=true and udp_only=false brings up the driver as expected and pointclouds are regularly published on /velodyne_points topic, along with relevant diagnostics also available.
However, if the hardware goes through a power cycle and comes back alive again (confirmed by pinging the LiDAR IP from host), pointclouds aren't published anymore on /velodyne_packets. The decoder component keeps publishing the "Missed pointcloud deadline warning" every 5s. The only way to recover from this seems to be a restart of the entire node.
When udp_only=true, the pointclouds start appearing a couple of seconds after the hardware comes back up online as expected and a node restart is not required. While this can be an interim solution, running with diagnostics might not be desirable.