Thanks both of you for the replies!
Just wanted to update you ? the issue is actually with the latest firmware V5.6.251.
It?s not working with any keyboard in analog mode. I tested multiple ones (Wooting 60HE, Turtle Beach Vulcan TKL Pro, Keychron K2 HE, and even the Sony Nav). The moment you move the analog bind, the device gives 3 beeps with no LED indication.
I downgraded the firmware to V5.6.241, and now everything works perfectly again.
Looks like the beta firmware needs a fix.