MBP was previously running 12.1 when the issue first arose, then upgraded to 12.2 beta (21D48) but did not resolve the issue.

How did you reset the NVRAM? I have read this is not possible on a machine with Apple silicon.

Also, leave the USB hub connected while doing this. That fixed it for me.

When I try this command it says: "No matching processes were found". Do you have any other workarounds?

I tried this and didn't have any luck. Thanks for the tip though

I'm curious to know if Ventura beta fixed the issue as well