Hi all,
I was able to remedy this issue with some assistance from Wendell via email. I think that the keyboard may have been stuck in BIOS mode as a result of initially plugging into the HID ports on the KVM then later switching to the USB 3.0 port.
To get iCUE to recognize it, I held the ESC key and unplugged the USB hub from the back of the KVM then plugged it back it and released the key after they keyboard booted up. Now, it works flawlessly. All of the multifunction (e.g., pause, play, volume scroller, etc.) work as they should, and it shows up in iCUE.
Thank you everyone. I hope that this helps if anyone else is experiencing similar issues.