PTF apply getting MCH6801, violation type is 4

Trying to catch up PTF's for someone and they are running into:

Hypothesis: QSECURITY = 40 is playing havoc with the PTF apply and maybe
should be lowered until they get current with PTFs?

Details:

V7R2, TC21084 But I don't trust that it ever fully applied as
WRKIMGCLG
PTF Group Level Status
SF99720 21084 Apply at next IPL
SF99720 19297 Apply at next IPL
...
QSECURITY = 40
QVFYOBJRST = 1
QALWOBJRST = *ALL

SCPF job:
MCH6801 Escape 40 QPZARPCOLD QSYS 1352
QPZARPCOLD
Message . . . . : Object domain or storage protection error for
offset X'0000000000000000' in object QINSEPT.
Cause . . . . . : A program tried to use a blocked instruction, access a
system domain object, or make invalid use of a protected page. The violation
type is 4. The violation type indicates the type of error: 1-Object
domain violation. 2-Test Pointer Target Addressability (TESTPTA) violation.
3-Read
protection error. 4-Write protection error. 5-Execute protection error.
The space class is X'00'. The space class designates the type of space for a
storage protection error or TESTPTA violation for a space pointer:
00-primary associated space (includes space objects).
01-secondary associated space. 02-implicit process space for automatic
storage.
03-implicit process space for static storage. 04-implicit process space
for activation group-based heap storage. 05-constant space. 06-space for
handle-based heap storage. 07-teraspace offset
X'0000000000000000'. 08-teraspace for i5/OS PASE memory address
X'0000000000000000'.
X'00000000000000000000000000000000' is a pointer to the storage for
a protection error or TESTPTA violation for a space pointer. Some violations
may be suppressed at low system security levels.

CPF9999 Escape 40 QMHUNMSG *N
QPZCPFIU QSYS 0C45
Message . . . . : Function check. MCH6801 unmonitored by QPZARPCOLD at
statement *N, instruction X'1352'.

CPF3933
Message . . . . : Error occurred while processing PTFs during IPL.
Cause . . . . . : A function error occurred while processing program
temporary fixes (PTFs) during this IPL. Recovery . . . : Look at the job
log to determine the cause of the error, and display the history log (QHST)
to determine if the required PTF processing completed successfully. If it
did not, you must start (IPL) the system to try the operation again.

I had loaded up the image catalogs, verified them and ran the INSPTF
LICPGM((*ALL)) DEV(OPTVRT01) INSTYP(*DLYALL)
Then later I did the IPL.

All PTF's for 5770999 are applied perm, temp or Superseded

Lots of PTFs for the other stuff are Not Applied
As per DSPPTF OUTPUT(*OUTFILE) and
select scppid, scstatus, *count*(*)
from rberendt.dspptf
group by scppid, scstatus
order by scppid, scstatus
shows.

No link loader errors or that fun stuff.

Any chance another IPL will clear this up? Like the message CPF3933 above
gives some hope too?

V7R2
QSECURITY = 40
QVFYOBJRST = 1
QALWOBJRST = *ALL