I've had this same issue for over a year.
Verizon 5G plan; 2 iPhone 11's that are still on LTE. Wife's iPhone 14 runs on 5G and doesn't have this issue.
Coverage in my middle-of-nowhere house is typically 1-2 bars and varies depending on the room I'm in.
But even in nearby major areas with 4 bars, Home Screen will show zero bars until I toggle Airplane Mode.
Cellular data & Wifi data are both unaffected, but when the "zero bars" bug strikes, no voice calls or SMS in or out AND Wi-Fi calling breaks too! I toggle Airplane Mode on/off, which resets the connection.
I'm convinced it's an iOS bug, since it's gotten slightly better with iOS 17--I used to have to do a full restart each time.
And, I can get Wi-Fi calls to ring on my other Apple devices if I enable that option.
Escalated to a senior Apple tech today after many useless rounds of "Reset Network Settings" and "Reset All Settings" (the latter is more of a PITA to reconstruct than they let on, avoid if you can). They punted back to Verizon since it's happening on more than one phone.
Verizon, which wasn't much help; ran some cursory network tests, and suggested turning on "Prefer Wi-Fi When Roaming" even though that supposedly only applies to international roaming... The tech said "something something access to more towers". I've been getting arm-twisted toward a more expensive plan that somehow boosts my priority access to the cellular network.