Bug 17010 addresses triggering the next hold when a hold is cancelled, but transfers should also be triggered. Currently in 3.22.8 nothing happens. It is unclear if 17010 addresses transfers as well. Also, in 3.18 local holds were spotty when holds were triggered.
This has been an ongoing issue as long as I can remember. It doesn't make any sense to our workflow to go into waitingreserves.pl and cancel holds if they are not going to produce slips if they transfer, and if it is not going to trigger holds and produce slips for those. This is an incomplete action, and needs to be addressed.