I've had this happen several times, recently, but a toggle fixes it (annoyingly so).
I'm pretty dependent on Outlook,
@0Portal0 , do you have *specific* links/info, regarding the conflicting policies?
No link here, but this is something I found out about a long time ago. As you may know, smart lock blank page is not something new.
I have tested this on different phones with different android versions. I suspected it because I didn't have the problem until I installed outlook and logged in with my secondary live account.
I also noticed that outlook has it's own device policy (under "device admin apps"). Probably because work related policies for exchange services. In my situation, I suspected that outlook enforces it's own device policy or conflicts with smart lock even though it was disabled under "device admin". I uninstalled it for few days to make sure it is the culprit, and it was.
I also tested outlook once again with my new android 13 phone. The problem occurred not long after I installed and logged in with outlook. Since removing it, I haven't had the "blank smart lock" issue again.
To people, who do not have outlook installed... look at "device admin apps". If you have anything with "policy" in it, try to uninstall it. It's not enough to disable it. If nothing suspicious there, make sure that you don't have an exchange email account setup, because it can also enforce some security policy, which can conflict with smart lock. If you do, try to remove it for few days and see if it solves your issue.