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I found the solution!
Under "Lifecycle - Enrollment Status" there were 2 active tokens for this iPad.
One token from my first install (which worked) and the 2nd token for the new install with new profile.
I revoked the first token, then installation of profile for new user worked.
Glad to hear revoking the token resolved your issue, but I'm curious if it's a bug as the previous token should have been revoked after it's unenrolled from the console.