Hi @TomM2!
I appreciate the insight. This may have led me in the right direction had I not yet found a fix.
Soon after I posted this, I reached out to our DNS provider to see if they had a solution, and they confirmed that the entries were under TXT when they should’ve been under CNAME. 
Though the screenshot I shared with our IT team said CNAME, I have zero knowledge in this area so hearing them repeatedly say TXT wasn’t a red flag for me. Now I know! 
They moved the records from TXT to CNAME and everything is sorted now.