Reported by @lsf37 and @alainkaegi.
Having a PD with minimum budget (20us) on the Odroid-C4 seems to never make progress. Setting budget=21 fixes it somehow. This setup couldn't be reproduced within sel4test, so it could be an issue with Microkit.
More investigation required, need to test other platforms etc to see if it's a general problem or somehow isolated to Odroid-C4.