Additional notes (January, 2023):

Forwarded to SG12 with paper issue 1405, by decision of the CWG and SG12 chairs.

(From National Body comments US 024 and US 025 on the C++20 DIS.)

Subclause 5.2 [lex.phases] bullet 1.2 specifies:

Except for splices reverted in a raw string literal, if a splice results in a character sequence that matches the syntax of a universal-character-name, the behavior is undefined.

Undefined behavior during lexing is not acceptable. The behavior ought to be well-defined, ill-formed, or conditionally-supported.