I was not aware of the beta release 112.3.254 existence until now, so I solved the issue as follows (on Win10):
- downloaded the previous version (the last one before 111.4.472);
- installed it (no need to uninstall the 111.4.472 before);
- immediately renamed the DropboxUpdate.exe file in Program Files (x86) —> Dropbox —> Update to DropboxUpdate.exe.old
Please note that the third step is mandatory because Dropbox will otherwise auto updates itself in a while to the non-working version.
All works fine now.