I found the answer after looking at this post, https://www.tumblr.com/bcolbyb/141046994325/dhcp-gotcha?redirect_to=%2Fexplore%2Ftoday&source=blog_view_login_wall
Inside the DHCP console, if you right click the IPV4 option, you'll see Set predifined options, Click it.
Now go over the options that are there and ensure that that the information is the same on both Domain Controllers. Also make sure data types are the same. The Secondary Server that will be the failover must match the Primary DHCP server Predefined settings
In my situation the information was the same except for the Data type on two options. So once I changed it, I was able to set up the failover successfully.
I hope this provides more guidance as I didn't see much advice on this online