Good to know it's not just me! Sad to know it's not just me haha.
I should probably report it.
I got a response for the bug report quite quickly.
Autosmooth modifier doesn't create custom normals, so checking the "Normals" in Simplify-Viewport isn't going to do anything. It was functioning just fine ^.^'
Perhaps something changed from 4.5 that caused the file to lose whatever custom normals it was supposed to have? Probably something I don't need to go down the rabbit hole for.
I knew immediately what to try next after the response from Blender.
In the Object Data Properties, under Geometry Data I checked for custom normals and there weren't any. I clicked "+ Add Custom Normals Data" and boom.
Checking "Normals" in Render Properties -> Simplify -> Viewport works now.
:]