I agree it could be pad movement, is there an easy way to rule this out, I guess a tiny movement their translates to a big movement at the outside edge of the rim, but this movement has only become apparent in the last few months. The movement seems consistent with the wheel pointing straight and side to side, so it may be movement at the pads then transfers to bearings that can’t be detected.
The hubs are no name hubs that I got with the fork. I haven’t done any maintenance in the year since having them, I assume they’re sealed bearings but the plan was alwasy to replace the hub anyway.
My main concern is ruling out the fork bushings and I’m pretty sure I have