Why is Azure Redis Enterprise Connection Event Auditing not working?

I have a problem with my Azure Redis Enterprise Cache running hot, I suspect its due to too many clients connecting concurrently and repeatedly. I want to enable connection event auditing in order to prove the suspicion.

I created a new storage account in the same region and resource group as my cache, using the default settings. I then enable connection event auditing via the azure portal pointing at my new storage account.

However, even after multiple hours I still see no logs being generated in the storage account and Azure Monitor queries says there's no data.

How can I investigate further why the logs are not appearing?