Hardware video decode stopped working literally overnight

Fedora 42 KDE, tested with kernels 6.17.10 and 6.17.11

I got my new Thinkpad X1 2-in-1 with Intel Core Ultra 7 268v yesterday, and the first thing I checked was that hardware video decoding was working. It was. In Brave, in local files, etc.

I put my laptop to sleep last night, opened it this morning, and suddenly hardware decoding no longer works ANYWHERE. Any video playback from any source heats up my CPU and tanks my battery.

Literally did nothing and it just broke system wide. Reboots, different kernels, nothing fixes it.

What gives, and how can I troubleshoot?

Confirmed with nvtop that encode/decode rate is 0% now no matter the video source. Local file, stream, nothing. Please help!