You probably already have covered this in another forum - but here I'm not sure which operating system you're dealing with considering Windows and macOS would both match the information thus far. Android and iOS versions Studio One are eliminated but no further.

I'm using a Dell Precision 5550 laptop running Windows 10 Pro 64 bit. Thanks for reminding me to be more accurate =)

Studio One is definitely recognizing my device, there is just something not syncing up.

Ok - thanks. That better paints the picture. Maybe someone else can chime in if they've seen a similar message. Like so many other things Windows related if I started seeing things like this I would remove the drivers, reboot, then reinstall the drivers following the directions for installation regarding if the instrument should be disconnected from USB or not during the installation process (maybe it doesn't say - but some devices have strict instructions).

This is a "shotgun" approach.

Before doing any of that - what's the version of driver you are using? As read by the driver reporting the version. The "about" tab shows this:

Yamaha Steinberg USB Driver V2.0.4
Copyright (C) 2009-2020 Yamaha Corporation

I followed installation instructions included with the download to the T (including the following) and when I opened the YSUSB Control Panel my device is not listed.

Confirmation of Installation
9 From the Start menu, click [Yamaha Steinberg USB Driver]  [Control Panel].
10 Confirm that the device name you are using is listed.
Installation of the Yamaha Steinberg USB Driver is now complete.

When troubleshooting your system, please connect the MOXF directly to your computer with a USB cable (no hub).
Since the error message is about the Driver failing to start correctly, says that the driver is installed but something is preventing it from negotiating control over Audio I/O…

What currently is your computer starting as its default audio?

Couple of things:

I had been using aUSB3 cable (no hub) and this morning I changed to USB 2, and still having same issue, only now I'm also getting a loud, stuttering, static sound coming through the speakers connected to my yamaha workstation. So there is some kind of signal getting through, but the laptop is still not recognizing the workstation. The static sound ceased when i disengaged the "System" key under the "effect" bank.

All default audio is realtek--microphone, stereo mix, speakers.

Couple of things:

I had been using aUSB3 cable (no hub) and this morning I changed to USB 2, and still having same issue, only now I'm also getting a loud, stuttering, static sound coming through the speakers connected to my yamaha workstation. So there is some kind of signal getting through, but the laptop is still not recognizing the workstation. The static sound ceased when i disengaged the "System" key under the "effect" bank.

All default audio is realtek--microphone, stereo mix, speakers.

Please see page 53 of the MOXF "Owner's Manual" -- You must use a USB2.0 cable (a USB 3.0 cable is specifically stated 'cannot be used'

So although you may have a ground issue - at least you now have the correct cable. "TO HOST" from the MOXF going to your computer's USB port
According to Dell: "All Precision 5550 workstations ship with a dongle that supports HDMI and USB-A."

Otherwise you will need an adapter...