No ACK when connecting to MAX32625PICO via USB

OS: Windows 11
Python: 3.10.0
pyOCD: 0.36.0
Target: MAX32625PICO development board

I have a MAX32625PICO development board connected to my PC via a USB cable. Listing available devices (pyOCD list) successfully finds it:

  #   Probe/Board        Unique ID                                          Target
----------------------------------------------------------------------------------------
  0   Arm CMSIS-DAP v1   04161701a0b903f800000000000000000000000097969906   ✔︎ max32625
      Analog Devices     MAX32625PICO

However, when I try to reset it (pyOCD reset -v -v) I get:

>pyOCD reset -v -v
0001099 D Project directory: C:\Windows\System32 [session]
0001162 D Project directory: C:\Windows\System32 [session]
0001177 D CMSIS-DAP v1 probe 04161701a0b903f800000000000000000000000097969906: firmware version 0259, protocol version 2.1.0 [dap_access_cmsis_dap]
0001177 D closing interface [hidapi_backend]
0001193 I Target type is max32625 [board]
0001193 D Board: Analog Devices MAX32625PICO [cmsis_dap_probe]
0001193 D Target: Maxim MAX32625 [cmsis_dap_probe]
0001208 D Running task load_svd [sequencer]
0001208 D Running task pre_connect [sequencer]
0001208 D Running task dp_init [sequencer]
0001208 D Running task lock_probe [sequencer]
0001208 D Running task get_probe_capabilities [sequencer]
0001222 D Running task connect [sequencer]
0001240 D Default wire protocol selected; using SWD [dap]
0001256 D Sending deprecated SWJ sequence to select SWD [swj]
0001381 D DP IDCODE read failed; resending SWJ sequence (use dormant=False) [dap]
0001381 D Sending deprecated SWJ sequence to select SWD [swj]
0001397 D DP IDCODE read failed; resending SWJ sequence (use dormant=False) [dap]
0001397 D Sending SWJ sequence to select SWD; using dormant state [swj]
0001412 D DP IDCODE read failed; resending SWJ sequence (use dormant=False) [dap]
0001412 D Sending SWJ sequence to select SWD; using dormant state [swj]
0001428 D DP IDCODE read failed; resending SWJ sequence (use dormant=False) [dap]
0001428 D uninit session <pyocd.core.session.Session object at 0x000002602A4315A0> [session]
0001428 D closing interface [hidapi_backend]
0001428 C No ACK received [__main__]
Traceback (most recent call last):
  File "C:\Users\kieran\AppData\Local\Programs\Python\Python310\lib\site-packages\pyocd\probe\cmsis_dap_probe.py", line 539, in read_dp
    result = self._link.read_reg(reg_id, now=now)
  File "C:\Users\kieran\AppData\Local\Programs\Python\Python310\lib\site-packages\pyocd\probe\pydapaccess\dap_access_cmsis_dap.py", line 1086, in read_reg
    return read_reg_cb()
  File "C:\Users\kieran\AppData\Local\Programs\Python\Python310\lib\site-packages\pyocd\probe\pydapaccess\dap_access_cmsis_dap.py", line 1080, in read_reg_cb
    res = transfer.get_result()
  File "C:\Users\kieran\AppData\Local\Programs\Python\Python310\lib\site-packages\pyocd\probe\pydapaccess\dap_access_cmsis_dap.py", line 161, in get_result
    self.daplink.flush()
  File "C:\Users\kieran\AppData\Local\Programs\Python\Python310\lib\site-packages\pyocd\utility\concurrency.py", line 29, in _locking
    return func(self, *args, **kwargs)
  File "C:\Users\kieran\AppData\Local\Programs\Python\Python310\lib\site-packages\pyocd\probe\pydapaccess\dap_access_cmsis_dap.py", line 885, in flush
    self._read_packet()
  File "C:\Users\kieran\AppData\Local\Programs\Python\Python310\lib\site-packages\pyocd\utility\concurrency.py", line 29, in _locking
    return func(self, *args, **kwargs)
  File "C:\Users\kieran\AppData\Local\Programs\Python\Python310\lib\site-packages\pyocd\probe\pydapaccess\dap_access_cmsis_dap.py", line 1166, in _read_packet
    decoded_data = cmd.decode_data(raw_data)
  File "C:\Users\kieran\AppData\Local\Programs\Python\Python310\lib\site-packages\pyocd\probe\pydapaccess\dap_access_cmsis_dap.py", line 482, in decode_data
    data = self._decode_transfer_block_data(data)
  File "C:\Users\kieran\AppData\Local\Programs\Python\Python310\lib\site-packages\pyocd\probe\pydapaccess\dap_access_cmsis_dap.py", line 451, in _decode_transfer_block_data
    self._check_response(data[3])
  File "C:\Users\kieran\AppData\Local\Programs\Python\Python310\lib\site-packages\pyocd\probe\pydapaccess\dap_access_cmsis_dap.py", line 372, in _check_response
    raise DAPAccessIntf.TransferError("No ACK received")
pyocd.probe.pydapaccess.dap_access_api.DAPAccessIntf.TransferError: No ACK received

The above exception was the direct cause of the following exception:

Traceback (most recent call last):
  File "C:\Users\kieran\AppData\Local\Programs\Python\Python310\lib\site-packages\pyocd\__main__.py", line 161, in run
    status = cmd.invoke()
  File "C:\Users\kieran\AppData\Local\Programs\Python\Python310\lib\site-packages\pyocd\subcommands\reset_cmd.py", line 107, in invoke
    session.open(init_board=(not is_hw_reset))
  File "C:\Users\kieran\AppData\Local\Programs\Python\Python310\lib\site-packages\pyocd\core\session.py", line 553, in open
    self._board.init()
  File "C:\Users\kieran\AppData\Local\Programs\Python\Python310\lib\site-packages\pyocd\board\board.py", line 143, in init
    self.target.init()
  File "C:\Users\kieran\AppData\Local\Programs\Python\Python310\lib\site-packages\pyocd\coresight\coresight_target.py", line 123, in init
    super().init()
  File "C:\Users\kieran\AppData\Local\Programs\Python\Python310\lib\site-packages\pyocd\core\soc_target.py", line 174, in init
    seq.invoke()
  File "C:\Users\kieran\AppData\Local\Programs\Python\Python310\lib\site-packages\pyocd\utility\sequencer.py", line 213, in invoke
    resultSequence.invoke()
  File "C:\Users\kieran\AppData\Local\Programs\Python\Python310\lib\site-packages\pyocd\utility\sequencer.py", line 208, in invoke
    resultSequence = call()
  File "C:\Users\kieran\AppData\Local\Programs\Python\Python310\lib\site-packages\pyocd\coresight\dap.py", line 467, in _connect
    connector.connect()
  File "C:\Users\kieran\AppData\Local\Programs\Python\Python310\lib\site-packages\pyocd\coresight\dap.py", line 257, in connect
    self._idr = self.read_idr()
  File "C:\Users\kieran\AppData\Local\Programs\Python\Python310\lib\site-packages\pyocd\coresight\dap.py", line 286, in read_idr
    dpidr = self._probe.read_dp(DP_IDR, now=True)
  File "C:\Users\kieran\AppData\Local\Programs\Python\Python310\lib\site-packages\pyocd\probe\cmsis_dap_probe.py", line 542, in read_dp
    raise self._convert_exception(error) from error
pyocd.core.exceptions.TransferError: No ACK received

Start with the pyOCD reset -v -v entry point and trace the CMSIS-DAP connection through pyocd/probe/pydapaccess/dap_access_cmsis_dap.py and pyocd/coresight/dap.py. Compare the successful pyOCD list path with the failed DP IDCODE reads, and verify the MAX32625PICO can reset successfully without the No ACK received error.