I have the following information per your note:
ESC and SPACEBAR has no impact on the RED PTT light. It remains on.
Under KEYER, the following are ticked: PTT ON when radio connected, Enable Keyer PTT, Enable Sidetone. With this condition, there was no change after a reboot.
I unticked Enable Sidetone and rebooted, the condition did not change. I returned it to the ticked position.
If I DISCONNECT RADIO, the light goes off. As soon as I CONNECT RADIO, the light comes back on. The light is off immediately after a reboot, but comes on as soon as I touch PTT.
I am set on 40M SSB for this testing.