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Any action that is performed (weapon swaps, pulling build menu out, etc) in front of friendly builds will remove the edit menu options from the highlighted build near the player.
I submitted a report in game November 10, 2021 at ~8:00PM EST under "Building" => "Issue with building piece" bug category. Epic ID: f706345dcfbd47df936d82396b6156ff
This bug has been around since at least the start of Chapter 2 and likely older than that. This sometimes causes confusion where teammates or the player will shoot through/pickaxe their own builds in large fights thinking they are enemy builds which can slow things down just enough to not quite be able to escape or save a teammate.
Potential cause of bug: There is some logic related to updating builds that does not get fired when a build is highlighted during actions. This logic is also tied to when a build finishes construction. For example, place a fresh build piece and swap inventory slots to remove the edit menu from said build. When the structure finishes building the edit menu will re-appear until another action is performed to remove it again. Alternatively, confirming or cancelling an edit on a build will force the edit menu to update and reappear as well.