I Just tested with ArcGIS Pro 2.5 and SQL Server 2017 and had no issues. I just upgraded from 2.4.3 yesterday. I was able to connect to all my geodatabases and non-geodatabases. I also tried OS and DB authentication with no issues.
What is the version of SQL Server being used?
Another option may be to reinstall the SQL Server Native client. I am not sure how the update would impact that but worth a try.
--- George T.