DXGI not working but WGC does

I’m having an issue with Lossless Scaling 3.2 using DXGI capture.

DXGI mode does not work for me: the FPS counter shows 60/120, but no actual frames are being generated. On the other hand, WGC works perfectly fine on the same setup.

I'm running on Windows 11 24H2 with a RTX 2060.