Finally got a minute to check things out more thoroughly. I updated the firmware. No improvement. Then I tried a spin down calibration, and it wouldn’t show any speed (ie 0.0 mph). So then I figured it was the optical sensor. After disassembling the unit I found the optical “mirror” sticker was gone! So the noise I heard that I thought was my tire deflating was the optical sticker peeling off and running for a moment.
Going to get some new tape which should fix the issue. I will post an update when it’s working so anyone searching the forum in the future with the same issue can find this.