iPhone 12 Pro Max - Verizon - call failed

I recently upgraded my two Verizon lines to the iPhone 12 Pro Max through Verizon. Ever since the upgrade for both phones, we have been getting cut off of phone calls with a popup message "Call Failed". I have called Verizon numerous times and also tried the online chat where they were troubleshooting for over 4.5 hours. They had me reset my network settings multiple times, remove SIM card and reinsert it, turn airplane mode on, then off, turned wi-fi calling on and off, hard reset, reset to factory settings, changed Cellular Voice and Data to LTE, checked for outages and service in my area and my mom's area (in a different state but having same issue). Nothing has worked. At one point the representative said that there is a known issue with the software for the iPhone 12 and apple is working on fixing the issue. Is this true?

I'm paying $195 per month and can't even make a phone call without it dropping off in the middle of a conversation. This is ridiculous. I have been an iPhone user for over 10 years and I have never had a problem. If I was still in the return period I would return both of these phones and go back to my iPhone 8.