I tried to reproduce the bug but im not able to.
I tried throwing different things, found the blue childbriefcase and tried that and i also made the improvised backpack since i had it when the bug happend but it didn't work.
I tried to see if the order that i put on the backpack was the key (childbriefcase on the back, improvised backpack into hands, moving stuff from childbriefcase into improvised, swapping backpacks, throwing childbriefcase). I tried some other variants as well.
When i had the bug i was able to reproduce it every time i pressed G.

Hello GeeZ

My experience is that this happens with canteens and waterbottles when you are crouched. When you stand up straight it works.

Edit: I was wrong. I tried today and i could "drink all" in any position so it might be connection related as someone has already mentioned.

I uploaded three print screen pictures showing how it looks like. I know its not in english but i guess most of the valueable info is universal. I can translate if you need it.

Could it be a anti-virus problem?

I played yesterday and the problem ocurred. I waited to see what happened with time but nothing changeed during 15min. But i noticed this time all the loot was gone.
I exited the game and by coincidence i checked the log for my Norton anti-virus and it had blocked DAYZ.EXE and BESERVICE.EXE several times during the time i was playing.
I changed the program rules From "Automatic" to "Allow" for both Battleeye, DayZ and all the steam related programs. This did not stop the blocking and i can not manage to find any solution that stops it from blocking.

During christmas me and my brother played dayz sitting next to eachother and we both experienced this problem at the same time. My brother is not that patient so i didnt try to wait but we were both unable to rejoin.

And again i watched M1NDR stream yesterday and again he had the same problem. He was trying to rejoin but the server was full. Although he said that he wasnt sure if that was actually correct so that would match my experience with the problem, it happened with 50/50 on the server. He seemed sure that the server didnt restart but that it was a server issue and i also feel very sure this is a serverissue of some sort.

I dont know what i can do to give you guys more helpful info on this, i will post if i notice something of value.

I played today and i suddenly were unable to interact like before so i thought i would try to continue without exiting to see if it would last for ever.
After 3-4 minutes the red text "No message recieved" appeard and this time it stayed until 90sec. I managed to check the player list before i exited. It showed 39/40. The list had frozen to but i saw in the frozen list that one player was joining before the freez.
This time i also managed to rejoin after i lost connection.
Maybe exiting before the red text appear on the screen creates the problem?

Sorry for the late respons and yes it is still an issue.
After the releas of 0.50 to stable it seems that it doesent happen as often as befor. To me it has only happend once after 0.50.
I was playing on a 50player server and this time for a split second the red text "No message recieved" appeared as it counted from 10 to 11 and then disappeared. I waited to see if something would happen when reaching 90sec. but nothing happend so i thought i had regained connection. But since Elektro never sleeps on a full server i got suspicious. I exited and tried to rejoin and the for ever "Wait for host" message was back. Server player count was 49/50.
I havnt found any issue reports that seems to relate to mine and tere hasnt been much response on my report but i know im not the only one. I saw this happen on a livestream on twitch with M1NDR. As with me the problem occured when people joined and the server filled up. His friends experienced the same problems at the same time and when he exited and tried to rejoin he got the for ever "Wait for host" message. I think they fixed it by restarting the server but i have experienced playing on servers with 2 and 4hour restarts and are not able to join the same server for days.

I was playing yesterday and the "wait for host" problem was gone, i had the normal "maximum number of players reached" message. I didnt get to test playing on a server until it reached full cause alot of the servers with 37/40 and 38/40 still gave me the "maximum number of players reached". The one i managed to join didnt fill up.
Today both problems were back like before. Today i also had no servers in the "internet" tab in the lobby. No filters were set. "Favorite" and "History" tabs were normal.

I experienced this in the Municipal office in Novodmitrovsk. I was looting on one of the platforms between two stairs. So I didnt move when i got damaged and nothing happened on the way up that could have caused it. The only way i could get shot was if someone stood in the stairs cause i were covered by walls all around and noone was in the building. Pants and content in pants got ruined and my backpack went from prestine to damaged but nothing inside took any damage.
I have had the same happen two times in the firestation tower and a few times in residentialbuildings