Thank you Bradley!
I logged in, switched back the option to the default “Optimized”, and it works on the dev server, the script is correctly loaded.
I think this might be only a cache related issue then. Can you switch back to the “Optimized” setting on the live site too? After switching please make sure to clear all layers of cache.
Let me know when you switched back, and I will check the output to see if the analytics script is there.