Do you see anything on the capture? It looks for me like everything is working ok? Is the waveform different to what happens on the Pico?
I guess you could try specifying a lower bitrate as @SergeP had tried?
Maybe SPI send is working ok but receive isn't? But I'm pretty sure that's tested.
All I can think is maybe now DMA is used from transfers the CS line isn't being asserted properly?
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