Spotlight not indexing file contents

Spotlight is not indexing file contents (metadata such as file names is fine). I can find a file given part of its name, but cannot find a word that is inside a file. This is Ventura 13.0.

I have already tried all the recommended methods discussed on forums (over 9 different ways), including placing the drive on the privacy exclusion list and later adding it back, mdutil commands (turning off and on, easing the index with -E or -X), using OnyX, booting in safe mode, etc. I've also checked the Console but nothing obvious there.

I've dedicated (wasted) several hours trying to solve this problem before asking here.

Any suggestions will be highly appreciated.