eGPU stopped working

I have been using a Blackmagic eGPU with my 2018 Mac mini i7 for some time without a problem. However suddenly I came to my computer and it is not connecting. The symptoms are identical to this thread. The GPU shows up as a thunderbolt device in System Information but is not running. The ‘No Removable eGPU’ message shows up when clicking on the menu icon before it disappears. I tried a new thunderbolt cable just in case. I'm guessing this is a driver issue? The eGPU is running the latest firmware (1.2) and my Mac is fully up to date with Sonoma.