CodeBuild project fails on time out. Stuck in QUEUED state

Since two days ago my codebuild projects that I have not been touching for a while started to fail in us-east-1 region. Example failure from CLI

 "startTime": "2023-01-09T21:00:13.773000-08:00",
            "endTime": "2023-01-10T05:00:28.257000-08:00",
            "currentPhase": "COMPLETED",
            "buildStatus": "FAILED",
            "projectName": "", // reducted
            "phases": [
                {
                    "phaseType": "SUBMITTED",
                    "phaseStatus": "SUCCEEDED",
                    "startTime": "2023-01-09T21:00:13.773000-08:00",
                    "endTime": "2023-01-09T21:00:13.863000-08:00",
                    "durationInSeconds": 0
                },
                {
                    "phaseType": "QUEUED",
                    "phaseStatus": "TIMED_OUT",
                    "startTime": "2023-01-09T21:00:13.863000-08:00",
                    "endTime": "2023-01-10T05:00:28.257000-08:00",
                    "durationInSeconds": 28814,
                    "contexts": [
                        {
                            "statusCode": "BUILD_TIMED_OUT",
                            "message": "Build has timed out in the queued phase"
                        }
                    ]
                },
                {
                    "phaseType": "COMPLETED",
                    "startTime": "2023-01-10T05:00:28.257000-08:00"
                }

No logs created or any other info given, which makes it hard to debug the issue. Anybody has idea how to debug or what could be the root cause?