When starting a M+ key in a non SL zone conduits soulbinds and covenant abilties do not immediatly activate. The only way to get these to work is to leave and re enter the dungeon while the key is active.
Just had this issue in lower kara. Our covenant abilities worked but none of our soulbinds or conduits were active.
Happening to me. I notice that Divine Steed doesn’t last the full 6 seconds because the conduit doesn’t load. Mikanikos soul bind - I didn’t do the questline to unlock him, instead I had it already unlocked because I did it on my monk. Only fix I found is to hearth, swap my soulbind to Pelagos and back, and then get a summon back into the instance while the m+ timer is going.