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RJ45 Speed LED shows undocumented solid red (Intel 2.5G LAN)

On a Gigabyte Aorus X570S PRO AX board the RJ45 LAN Port is documented withenter image description here

Here’s what I observe. Note the red speed LED. Both are solid on, the amber Activity LED flickers only momentarily since there is not much traffic. The switch it is connected to can only provide 1Gbit/s. Changing ports or cables has no effect.

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The board’s BIOS has the LAN port enabled, but reports “Link Status: disconnected” and the OS (FreeBSD) can’t even find the device. Other Gigabyte docs refer to the LAN as “Intel 2.5GbE LAN” and “Intel(R) Ethernet Controller(3) I225-V”.
What is the red LED signaling? I’m beginning to suspect the (brandnew) new board is faulty.