Just an update on this.
First, the Site24x7 has went over and beyond on working with me in finding a fix for the issue. They created multiple agents to try and improve the WMI calls and more. Big kudos to the team.
With that being said, it's looking like the issue was with our WMI quota. In the past it was configured with high values, specifically for this property: MemoryPerHost
We had it configured at 4GB. Dropping it to 2GB (at first we dropped it to 512MB and it worked) fixed the issue. Anything higher and the problem would immediately start happening again. We are testing that out on multiple different servers during the next 1-2 weeks to make sure that's the fix, but so far, not ONE event has happened on any server after making that change.