Going to follow up with some of the steps I've taken to troubleshoot/replicate this issue.
1. Update drivers from 23.8.1 to 23.9.2. This was done both using the AMD software installed on my PC and the update downloaded from the support page for my GPU. Both instances resulted in the monitor being detected by windows but considered inactive.
2.Boot PC into safe mode to uninstall drivers via DDU, then updating to 23.9.2. This also resulted in the monitor being detected by windows but being considered inactive.
3. Modifying Display Adapter Properties for Display 2 (the monitor impacted by this issue) and applying them. This, even without a driver update from 23.8.1 to 23.9.2, results in being forced to use DP 1.2 for the monitor.