Just tested in 4.5 on X10ds, created a new account (using an app password) and that is working fine.
Restarted the app, I get 1 sqlcipher prompt, but then nothing (no conversations showing up).
Journal sais:
Feb 09 08:16:47 PGXperia10 sailfishsecretsd[7033]: [W] unknown:0 - QSqlDatabasePrivate::removeDatabase: connection 'nextcloudTalk' is still in use, all queries will cease to work.
Feb 09 08:16:47 PGXperia10 sailfishsecretsd[7033]: [W] unknown:0 - QSqlDatabasePrivate::addDatabase: duplicate connection name 'nextcloudTalk', old connection removed.
Feb 09 08:16:47 PGXperia10 sailfishsecretsd[7033]: [W] unknown:0 - "Query failed: file is not a database Unable to execute statement\n\n PRAGMA journal_mode = WAL;"
Feb 09 08:16:47 PGXperia10 sailfishsecretsd[7033]: [W] unknown:0 - Failed to configure secrets database: " " : "\n PRAGMA journal_mode = WAL;"
Feb 09 08:16:47 PGXperia10 sailfishsecretsd[7033]: [W] unknown:0 - Failed to prepare existing database - closing: "/home/nemo/.local/share/system/privileged/Secrets/org.sailfishos.secrets.plugin.encryptedstorage.sqlcipher/nextcloudTalk.db" " "