TouchID stopped working since iOS16 [Fixed. Please see the approved answer for details.]

I don't use my work iPad that often anymore. However I had to charge my macbook whilst Proctoring some tests. I now realize that my 1P will not open with Touch ID. So EVERY single time I had to open a spreadsheet that used a different account I had to tell the person "Hold on, I have a piece of non-functioning software. Please be patient." I'm on 16.2 and IP 8.9.7. This goes right along with the iOS Face ID not opening the app problem. That thread was started in August. How can it possibly take this long to fix these problems? Did you layoff your engineers or something?

This is an embarrassment. I'm expected to pay full price for a product that does not do what it says! And no the fix ISN'T to throw my password in every time, downgrade to v.7 or anything else. The proper fix is for the company to fix these problems. Will you be offering a discounted price for users when their subscriptions come up for renewal?