Sorry for the late response here but my days have been very busy. I think you are 100% correct that the binaries got corrupted. After deleting the folder and re-running the report, everything worked fine and I had zero issues deploying to another server. Not sure entirely what all is happening but deleting the folder and re-trying seemed to solve the issue.
Again, apologies for the delayed response - but I did want to follow back up on this to ensure other people might come across the (hopefully temporary) solution.
Thanks for your prompt response!