Hey, thanks for replying. I tested for continuity between the SW and OUT pads and there is none
If there's no continuity between SW and OUT, the LED shouldn't be on. If there was a connection directly from the LED cathode to ground, bypassing the 4k7 resistor, then your LED would burn up.
Could you try measuring the resistance between SW and OUT? (in bypass mode when the LED is supposed to be off). Maybe there is a solder bridge that is passing current, but providing enough resistance that your DMM continuity setting doesn't register it. To that end, there also looks like something fishy on the right leg of the 4k7 resistor.
The portion of the circuit that lights up the LED is very simple, so you can study it and check the connections one by one. You could always build this portion off board if you can't solve it (it's just a resistor and some wires).