Trusted Platform Module with Windows Hello is greyed out

I encountered this issue. I have TPM configured correctly and a Windows Hello PIN setup. I had to go through the reset my PIN process to clear and redo the Windows Hello setup entirely. You can set the PIN to what it was before, it was the only way to clear it and reset as I couldn't disable it likely because it was the only Windows Hello supported option configured.

After doing this, I closed the 1Password app and reopened it and then the checkbox was available within Settings > Security.