Hey OneBuckFilms,
Thanks for reaching out through Apple Support Communities! We're glad to help with this issue you're seeing regarding the storage information on your device. Let's get to the bottom of this together.
Have you had an opportunity to restart your iPhone since noticing this gray bar? If not, let's do so now. Here's a guide with the recommended steps for a standard restart: Restart your iPhone
So that we're on the same page, what's the version of iOS installed on your device? This can be found under Settings > General > About.
If it's not yet updated to iOS 14.4.2, we can recommend backing up your data and updating at this point: Update your iPhone
Let us know if this helps!
Best regards.