Baffled at what is causing this issue once SNMP OID Discovery Rule is enabled, although template test was successful. Went over the rule with a fine-tooth comb and compared to out-of-the-box Zabbix discovery rules.
Additionally I was able to confirm from a test host Latest Value that the SNMP OID values do appear successfully.
Invalid discovery rule value: cannot parse as a valid JSON object: invalid object format, expected opening character '{' or '[' at:
'.1.3.6.1.4.1.6431.1.3.7.1.0 = Counter64: 12
.1.3.6.1.4.1.6431.1.3.7.2.0 = Counter64: 0'

Additionally I was able to confirm from a test host Latest Value that the SNMP OID values do appear successfully.
Invalid discovery rule value: cannot parse as a valid JSON object: invalid object format, expected opening character '{' or '[' at:
'.1.3.6.1.4.1.6431.1.3.7.1.0 = Counter64: 12
.1.3.6.1.4.1.6431.1.3.7.2.0 = Counter64: 0'
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