Reported DHCP address doesn't match actual DHCP address in use

Our EP4 was originally configured to use DHCP. The unit gets an DHCP address, can be pinged at that address and the web interface is functional at that address. However, the unit reports on the status page that its IP address is with a subnet mask of

I manually assigned it the same IP address as the DHCP lease and then the unit’s status page shows the correct IP address and the IP address at the bottom of the web page is correct.

Its currently running the 2.8 firmware. Both the web interface and the NCU program report that the unit has an IP address of when DHCP is active. I was going to try to update the firmware with NCU, but none of options are active on NCU, it only shows a single line identifying the device but you can’t do anything else with it.

Updated the firmware to 2.9.2. Didn’t help, problem still exists with DHCP addresses.

One other data point, the red world icon disappeared in NCU when I switched from DHCP to a static IP address.

Is it possible the EP4 doesn’t like the DHCP lease its getting from the Netgear switch? Currently, the lease doesn’t contain a router as this is a non-routable subnet. Beyond IP address and subnet, is anything else required?