Hello, Mike Thornton1
Welcome to Microsoft Community.
Since you mentioned that the issue occurs "following updating both Windows to KB5027293 and iTunes to 12.12.9.4", have you tried uninstalling the Windows update by hiding it and reinstalling an older version of iTunes? This can help determine whether the issue is caused by Windows Update or iTunes update.
To hide a Windows update, follow the suggestion here, which is also applicable to Windows 10: Removal and blocking of unwanted updates in Windows 11 Ver 22H2 - Microsoft Community. Manually allow to keep the file if the download is blocked.
To reinstall an older version of iTunes, visit this page: Apple - Support - Downloads
Disclaimer: Microsoft provides no assurances and/or warranties, implied or otherwise, and is not responsible for the information you receive from the third-party linked sites or any support related to technology.
It may also be worth considering creating a local user or administrator account in Windows and performing a clean boot to eliminate any potential outages caused by user profiles or background programs. These basic troubleshooting measures have broad applicability and can be attempted to solve a variety of problems.
You may also want to temporarily disable or configure the settings of your security software to see if it resolves the issue, as some security software, especially third-party ones, such as antivirus programs or firewalls, can interfere with the connection between your iPad and Windows. Don't forget to turn them on immediately later.
If none of these steps help, it might be best to submit feedback to Microsoft by pressing Windows + F on your keyboard at the same time to investigate the issue further, so that the issue may get fixed in the future.
Let me know if you have any other concerns.
Best regards
Yuhao Li
Microsoft Community Technical Support