I did some tinkering, and I believe that the wireless module is just faulty. I've had issues with WiFi and bluetooth being shotty. I had a spare Intel AX200 M.2 Key-E chip, and I replaced the Intel AX201 chip that comes with the board, and bluetooth and WiFi are working with no problem. The issue is that you have to take the board completely out of the case to take the I/O cage off (The silver cage above the I/O with the EVGA logo and 490FTW on it). Then, you have to unscrew the module from the board, take off the little cage off of the actual chip itself, then replace the module with a different working wireless chip. It took around 30 minutes with my system being water cooled with soft tubing. RIP to those that use hard tubing. The AX200 cost me around $20, so it's a fairly cheap board. Just remember to put the original module in when you RMA the board. The replacement does not damage any warranty void stickers or do any intrinsic change to the circuitry of the board.

Here is the Amazon link:

Overall, I am extremely disappointed with this board. Only having 2x full PCI-E slots is unacceptable for an enthusiast board, if this specific generation of the FTW lineup can even be called that. I use 2 GPUs and a 10GBb network card, so not having the third PCI-E lane (even if it's x4 at gen 2) is a handicap for me. To add insult to injury, most enthusiast Z490 boards are offering 2.5Gb integrated ports, and some even are rocking 10Gb, negating the need for a discrete network card. I see the Dark has 2.5Gb, but Asus has a board that is $250 cheaper and has 2.5Gb. Gigabit is minimum specs for a budget board IMO.

Speaking of features on other boards, why is there no Thunderbolt 3? I could easily run 10Gb without a PCI-E card or integrated chipset if there was a Thunderbolt 3 connection. I get that there is OS overhead, but even if I get 7Gb throughput after everything, it's still much faster than the integrated NiC. Even if there isn't a Thunderbolt 3 port on the back, there should be a header for people who use TB3 devices.
 
A QoL feature that would probably cost about $.20 per board is to have a front I/O plug adapter to make installing the motherboard into the case easier. I spend about 5-7 minutes fiddling with the plugs every time I have to take the motherboard out and re-install it because the front I/O plugs are vertical and hard to get to. Also, no support for changing fan speed within OS has left EVGA behind other motherboard manufacturers by years. It's a feature that should have been standard since Z170. MSI (who I absolutely detest for both spotty hardware and business practices) has this. I heard that this will become a feature in EleetX, but the program hasn't been updated in 5 months.

There is no CMOS reset button above the power button on the board. I've had this feature on the Z87 FTW and Z270 FTW board and it was really useful to have it there to help when switching out hardware. There's a safeboot button, but now I have to reach around (I have a DG-87 case) with a pen and reset the CMOS from the back. This needs to return on the board.

The only high-end feature of this board is the VRM heatsink, but there is only an 8+4 cpu pin connector, even though the Z370 required an 8+8. The Dark board has the full 8+8, but it is absolutely neutered by only having 2 DDR4 slots. I use a 4x16Gb kit for my setup, so having to buy a 2x32Gb kit to match my original capacity would be an extra cost that makes it not worth it. I get that it is an overclocking-focused board, but having only the FTW (now budget) and Dark board (Something that might as well be a paper launch since it hasn't been "in-stock" since its launch 4-5 months ago) is aggravating to me as a long-time EVGA purchaser.

I've bought 10 GPUs, 3 motherboards, 2 cases, 5 PSUs, the HBM and NVLink SLI bridges, and the hydrocopper blocks, I had much higher expectations for the Z490 lineup, but it's a bust. I'm still going to buy the 3080 FTW Hydrocopper when it comes out, but if the next generations of motherboards are as feature-lacking as the Z490 at the price point, I may consider going to a different brand.

I guess what I'm getting at is that the FTW has always been an entry-level enthusiast board. It's had more features than mid-range boards, but dropped features in high-end enthusiast boards that save cost and make little difference to average users. This board just seems like a budget board being touted as enthusiast when it's clearly lacking the creature comforts of the previous FTW boards. I wish I had paid $250 instead of $330.