Pro account won't record active speaker view in HD

I can't get a Pro account to record active speaker view in HD (720p). It only records in 360p. (It does record gallery view in 720p.) I've run out of ideas. Please help.

It's not a bandwidth or client-side issue. I have 100/100 FiOS internet access and all the clients are up to date (5.17.7 on Windows 10 Pro). The proof is I am able to record active speaker view in HD (720p) on an Education account. I also get the same issue when recording from two separate machines.

I have configured the web account following instructions on https://support.zoom.com/hc/en/article?id=zm_kb&sysparm_article=KB0066166#h_e10b8e22-b0d6-4434-ba68-5982d68f2260:

• Account setting
  In "Account Management"/"Account Settings"/"Meeting" tab/"In Meeting (Advanced)", the "Meeting-HD Video Quality" toggle is ON and locked
• User setting
  "Settings"/"Meeting" tab/"In Meeting (Advanced)", the "Meeting-HD Video Quality" toggle is ON (but since it was set and locked by admin, it shows as ON but greyed out)

Thanks for your help!