Nov 2020 Update -
I reached out to Chevy and they told me I had to take the truck in to a shop to diagnose the issue. I brought my truck to the closest Chevy Dealership and within an hour they reported there was a failed safety switch in the shift lock control system. This failed safety switch in the shifter assembly required a full replacement of the shifter assembly as I was told it was integral to the assembly. The dealership had this part in stock and were able to complete the repair within another hour. Since the truck was out of warranty, this was an out of pocket expense totaling ~$600.
I informed the dealership I intended to reach out to Chevy for reimbursement, since this was an original part manufacturing defect, not operator error. I was sent back and forth between the dealership and Chevy a few times telling me I had to speak to the dealership Customer Experience Manager. The dealership said the max they were allowed to offer was $75 towards the repair with no documentation as to why. I got back in touch with Chevy requesting more details as to why only $75 was being offered. After about a two week period, I received a call stating the dealership informed Chevy that the cause of the failed sensor was "water" damage. However, this was never reported during the shop visit or at any point up to this point. Chevy informed me there was no other appeal process at this point in time.
Current action is for Chevy, not the dealership, to send a check for ~$80 towards the repair.
I will say I was pleased with everyone at the Dealership and Chevy that I spoke with on this issue. With that said, I am extremely disappointed in Chevy's customer experience regarding the nature of the failed part. Due to their response, they have lost me as a customer for future vehicle purchases and I will expressing my concern to other family members and friends.
I will be waiting for the recall to be issued for this issue, as from my research it appears others are experience similar issues.