Thanks for posting the pic of the cards! This should help everyone figure out what the latest version SIM is for Verizon.Both say 5G with the IMEI? on the front - identical. But on the back (sim side) they look different.
One from Apple on top (sends calls to voicemail) (Bad).
One on Bottom from Verizon (works fine) - I got Saturday) (Good).
Bottom one came on a black card - <shrug> - I don't know much about SIM card tech. But it's workin fine now. Haven't had to toggle airplane mode for several days now.
FWIW, my Verizon iPhone 12 Pro had the bottom SIM installed in the phone. The top SIM card in your pic looks like the previous generation SIM card and may explain why it didn't work properly. Looks like the factory inventory got mixed up and some people are getting the wrong SIM card installed in the device.
EDIT: I should add that I'm not experiencing any call or network issues on my device.