LG 5K Monitor Not Detected After Sequoia Update

LG 5K monitor (model 27MD5KL-B) is not being detected after the Sequoia update. Although the monitor is properly connected, it does not appear in the Display settings. This issue started following the Sequoia update, and troubleshooting efforts have been unsuccessful so far. Notably, the same monitor works without any issues on another laptop running Sonoma OS.