In Keywords Explorer → SERP Overview, many result URLs are being reconstructed from Google’s breadcrumb-style display URLs. Because Google is now routing many SERP links through google.com/goto redirects, the real destination URL is often not visible during crawling.

The current reconstruction method frequently produces incorrect URLs, resulting in a high rate of 404 pages in SERP results. Example: keyword ‘queso’ (Spain) shows many 404 entries in the SERP table. This is not an edge case. It's a popular search term. I'm seeing this issue on at least 50% of all keywords, but the majority of 404s appear when searching non-English terms/regions.