CUDA - the provided PTX was compiled with an unsupported toolchain

When trying to compile a program with CUDA, I am given the error -
the provided PTX was compiled with an unsupported toolchain

According to the CUDA documentation
CUDA Runtime API :: CUDA Toolkit Documentation, this means -

This indicates that the provided PTX was compiled with an unsupported toolchain. The most common reason for this, is the PTX was generated by a compiler newer than what is supported by the CUDA driver and PTX JIT compiler.

Did some CUDA update break my installation? What could I do to fix this?

Are all of your related packages from the Repo or are some from the AUR?
Are you up to date?

Yes, CUDA and its dependencies are all from repo and I have the latest CUDA version. (Looks like it was last updated on 6th November - I havn’t used nvcc since then)

[reik@reik-msi ~]$ pacman -Qi cuda
Name            : cuda
Version         : 11.1.0-2
Description     : NVIDIA's GPU programming toolkit
Architecture    : x86_64
URL             : https://developer.nvidia.com/cuda-zone
Licenses        : custom:NVIDIA
Groups          : None
Provides        : cuda-toolkit  cuda-sdk
Depends On      : gcc-libs  gcc  opencl-nvidia  nvidia-utils
Optional Deps   : gdb: for cuda-gdb [installed]
                  java-runtime=8: for nsight and nvvp [installed]
Required By     : cudnn  opencv-cuda
Optional For    : None
Conflicts With  : None
Replaces        : cuda-toolkit  cuda-sdk
Installed Size  : 5.50 GiB
Packager        : Konstantin Gizdov <arch@kge.pw>
Build Date      : Tuesday 29 September 2020 02:55:58 PM
Install Date    : Friday 06 November 2020 10:28:34 AM
Install Reason  : Explicitly installed
Install Script  : Yes
Validated By    : Signature

Downgrading from version 11.1.0 to 11.0.3 fixes the issue.