When we use excerpt include macro inside a cache macro, we observed that the cache macro is ignoring the page permissions and displaying the content from the page where the excerpt macro (contains permissions) is.
Steps to reproduce the issue:
Create a page1 with excerpt macro and content in it. Make sure the page is restricted to other users.
Create another page2 with excerpt include inside a cache macro.
Try to access the page2 (with the restricted user). Even though the page1 is restricted to the user, the user will be able to see the content from the page1