Just wanted to add that this same problem is happening to me. I have 4 sites using UpdraftPlus but only one has this issue. Installing the update to see if this resolves it.
Odd, I tried it today and it worked creating the backup.
I’m having the exact same problem. I used this plugin last week on another site I’m running with no issues. I get the same zero byte sized backup file after running a backup using Backup Manager. I can create backups successfully using BackWPup.