Cherry-pick #8364 to 1.73.x

[arjan-bal]

Original PR: #8364

RELEASE NOTES: N/A

[codecov]

Codecov Report

All modified and coverable lines are covered by tests ✅

Project coverage is 82.19%. Comparing base (b610465) to head (6b1e0ce).
Report is 1 commits behind head on v1.73.x.

Additional details and impacted files

@@             Coverage Diff             @@
##           v1.73.x    #8365      +/-   ##
===========================================
- Coverage    82.34%   82.19%   -0.16%     
===========================================
  Files          419      419              
  Lines        42015    42015              
===========================================
- Hits         34599    34534      -65     
- Misses        5965     6011      +46     
- Partials      1451     1470      +19     

Files with missing lines	Coverage Δ
balancer/ringhash/ringhash.go	94.22% <ø> (ø)

... and 29 files with indirect coverage changes

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