Postgres automatically truncates identifiers longer than 63 characters, which can cause invalid object references. A NOTICE is printed in the psql console if this occurs, but the truncation is effectively silent from a SQLMesh user's point of view.
SQLMesh's automatic addition of table version numbers and _dev increases the likelihood that this occurs.
dbt also encountered this issue, addressing it with runtime checks. dbt-labs/dbt-core#2197