TFS automatically prepends the PR# to the merge commit message, which prevents the Regex matches of merge commit messages to properly detect the base version.
For ex. if the PR title is 'Merge release/2.3.1 to master', the merge commit automatically created by TFS on completion of the PR is 'Merged PR 12345: Merge release/2.3.1 to master'
Expected version: 2.3.1+0
Actual version: 2.3.1+688
Removing the '^' at the beginning of the Regex expressions in MergeMessage.cs would fix the issue.
This issue appeared after updating to GitVersion 4, we did not have this issue in version 3.