As people have mentioned here, this is a USB issue.
I have around 70 Oculus Rift S out there, on the same Windows update (1909), same laptop models, same Oculus App version, same Nvidia drivers, connected to the same networks, etc...
And yet for some reason only a third of them have this issue.
I haven't found the cause yet, but I've found a fix.
If your computer has a USB-C port, get a USB->USB-C adapter and use that with the Rift S. Reboot your computer, and now everything's green. No reinstall needed.
I've shipped the same adapter to ~20 clients, and it fixed the issue immediately for all of them.
I still don't understand why it only happens on some of our machines though.
I hope that helps!