No error is seen. The item does not fully get restored.
Exchange Online Archive folder in Exchange Online is a separate mailbox that Microsoft creates to archive items. This is a special mailbox that does not allow custom forms to be executed, so the Enterprise Vault Shortcut that is opened within this folder will not call on the Outlook EV Addin to retrieve the item.
Move the Enterprise Vault shortcut to a folder within the user mailbox. Enterprise Vault shortcuts are not supported within an Exchange Online Archive.