Thanks @VictorLerp, as always I appreciate your responses. We made sure the HMD’s proximity sensor was activated and that the controllers were awake.
We also saw this behavior when activating the haptic feedback via spacebar in a blank project, so I suspect the Grab Input Action issue you mentioned isn’t what we’re seeing, either.
My guess is we won’t be in a position to migrate to UE5 until 5.1 or 5.2, but I’ll see if I can tinker with it this weekend just to see what I find.