Having used ArcGIS Pro to georeference a dwg file, I find that some of the shapes have been changed in the process of exporting the newly georeferenced file back to a dwg and opened in Autocad.
I am unclear as to whether this is an ArcGIS export issue or an Autocad issue, but given that the file looks fine before running it through the georeferencing process in ArcGIS I am assuming the former. Thanks!
Images:
Before georeferencing (in Autocad):
After georeferencing (in Autocad, hard to see, bit shapes are now "blobs"):