I believe this is correct behavior. The commit which changed this behavior was 1308. Section 5.3.5.3.2.2.1 of the OVAL specification states that if no items are found for the referenced object, the object_component flag should be "error". This propagates to the referring object entity, resulting in flag="error" for the collected object. See also the table in section 5.3.3.3.4.
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oval:org.mitre.oval:obj:5330 throws error. Whereas in ovaldi 5.10.1 it shows "does not exis" as expected
I believe this is correct behavior. The commit which changed this behavior was 1308. Section 5.3.5.3.2.2.1 of the OVAL specification states that if no items are found for the referenced object, the object_component flag should be "error". This propagates to the referring object entity, resulting in flag="error" for the collected object. See also the table in section 5.3.3.3.4.