So I checked my wifi router settings (I use an eero Pro 6) and validated my connection speed after performing these steps on my iPhone 12 Pro Max:
Force restart iPhone - Apple Support
This seemed to resolve it for the most part (>24hrs of sustained observable stability) but I noticed the same thing happened again after my ‘Sleep Focus’ triggered. Luckily I was able to disable, and re-enable WiFi and since then, I’ve had no trouble. The next time I take a hit, I’ll time stamp it and check my router logs to see if anything ‘triggered’ the connection instability that it can see.
Sorry for no resolution here, but hopefully the force restart helps someone else struggling with this here.