When you specify the arguments to git incorrectly (and needs to print its usage) it will exit with error code 129:
C:\Temp>git status --asdf
error: unknown option `asdf`
usage: git status [options] [--] <filepattern>...
.... help is printed here ....
C:\Temp>echo %ERRORLEVEL%
129
Is it possible that you are passing the commands through PowerShell incorrectly? (Eg, is -Wait -Passthrough being delivered to git-status?)
You could avoid passing arguments entirely by calling the git-status command instead of calling git with the status argument.