As a final update, I wanted to say that I ended up unlocking my Pixel 6 and moved my SIM card there, and the hotspot works great on 5G/4G. I've sent the Zenfone 9 back to the vendor. Very disappointed!
Alright, four factory resets later and I can never even get to the state where the hotspot works in 4G mode anymore. Asus support said the only option for me is to return the device or have it fixed by their service center, which we know won't work. ...
Ugh, now that I've completed setting up more of my phone apps, the hotspot stopped working again. So my workaround is not acceptable. I'll be pushing Asus for a fix.
This is a 5G bug and it appears to be a Zenfone 9 issue. I am using Consumer Cellular. While I do not have any other unlocked 5G phones to prove my theory by moving my SIM card around, I think I'm on the right track here. And anyway, I've found a wor...