GoPro + Atomos Connect: Webcam video not working (only primary colours in vertical bars)

Found the fix!

Only having the video lag issue left allowed me to refine my search for a potential fix. I landed on this youtube video which showed which settings to change to get it gone and now it seems pretty smooth.

Sorry for the useless thread. Although the ability to post my thought process here is what helped me find an answer. I hope, having documented every step here, I can spare someone the same trouble in the future.

Have a great Sunday evening everyone!