Taco setup problems


I recently got a Taco and I’m having trouble with getting it to work with a Raspberry Pi CM4. When I plug it in I get a red power light but no other LEDs light up.

I’ve tried booting from an SD card with the Raspberry Pi OS image created with Raspberry Pi OS imager but I get no signal to the monitor.
I have also tried using USBBoot but I’m permanently stuck on Waiting for BCM2835/6/7/2711. I’ve tried this using two different computers, one running Ubuntu and the other MacOS. The CM4 board and the Taco both get warm so it seems like something should be happening but I aside from the power LED I see no other signs of life.

Does anyone have any tips or ideas? Did I just get a bad board?