Thunderbolt Displays suddenly stopped daisy chaining

Hi. I have been running two legacy Thunderbolt Displays from a 13-inch 2020 MacBook Pro running Monterey 12.6. The MacBook has two Thunderbolt 3 ports, one houses the power cable and the other has an Apple-branded Thunderbolt 3 adapter. The monitors are daisy chained via the Thunderbolt port on the back of the monitor.

The system has worked flawlessly for over two years and yesterday one monitor simply stopped working. If I hook the monitors up independently, they work fine. I've disconnected from power, rebooted, swapped wires around, etc. with no luck. The monitors simply refuse to daisy chain.

Any advice on how to get this setup working again? Were there any recent updates that took away this functionality? Just strange how it suddenly stopped after working for so long with no issues. Thanks for any advice.