THE PROBLEM
I have a custom built PC that runs my tasks flawlessly. From gaming, to video editing, to general use, it's great! The problem comes when I connect my XBOX Elite Series 2 Controller to my PC via Bluetooth in conjunction with an additional Bluetooth device such as my headphones (Sony WH-1000XM3 or even my WF-1000XM3 earbuds). Shortly after connecting, my controller will lose connection with my PC then immediately reconnect a few seconds after. This doesn't seem to happen when my controller is the only Bluetooth device connected to my PC and I have my audio output through the auxiliary speaker output. The only other device that has a Bluetooth connection is my Samsung Note 10+ through Microsoft's "Your Phone" application but having my phone connected or disconnected doesn't seem to make a difference. I'll also note that I could replicate this issue on a Razer Blade Stealth '13 and even a DELL XPS 13 2-1 so this seems to be a software/driver issue.
TROUBLESHOOTING
I'm a Sys Admin so I thought I could fix this myself but unfortunately that isn't the case. I've done everything from updating/replacing drivers on the controller and the network/Bluetooth adapter(s). I've factory reset my PC and updated it to the latest Windows 10 build through settings. I even bought a separate motherboard and PCI-Express Bluetooth card that my controller would exclusively connect to but with zero difference in outcome.
PREVIOUS THREAD OF SAME ISSUE
It seems there was a previous thread of what seems to be the same issue, here's the link to that one.
MY SETUP
CPU: Intel Core i9-7900X
GPU: MSI RTX 2080 Gaming X Trio
RAM: 64GB CORSAIR Vengeance RGB PRO DDR4-2666MHz
Motherboard: MSI X299 Gaming Pro Carbon AC
Storage 1: x2 Samsung 970 Evo M.2 NVMe (in RAID 0)
Storage 2: SanDisk 1TB SSD PLUS
Storage 3: x2 2TB Seagate Barracuda Pro (in RAID 0)
PSU: EVGA Supernova 1000W G5
CPU Cooler: NZXT Kraken X62
Case: NZXT H510 Elite
Fans: x3 NZXT AER RGB 2 HF-28140-B1, 140mm
Fan: x1 NZXT AER exhaust fan, 120mm
Wireless Card: TP-Link Wi-Fi 6 AX3000
10GB Ethernet Card: ASUS XG-C100C
PICTURE OF MY SETUP
You can see my setup is fairly minimal with a maximum of 3 Bluetooth devices that have ever connected to my PC.