Ensoniq EPS 16 Plus - Not loading OS

I have an Ensoniq EPS 16 Plus Turbo keyboard. For some reason, the OS does not load on start up and it either asks me to “Please insert Disk” or “Loading System” then says the disk is unformatted.

I made my own floppy OS, and even bought one off Ebay to be sure it’s not the disk itself. I replaced the original Disk Drive with a Floppy emulator (HxC Lotharek SD) and it still does not load.

I bought a replacement floppy drive ribbon, cleaned off any oxidation on connectors, and it still does not load the OS.

Does anyone know what could possibly be wrong? Is there something on the main board that needs to be replaced?

Any help or direction is appreciated.