Since the first quarter of 2019 there has been a problem with the driver for various Intel Wireless Bluetooth Chips.
If you want to connect more than 1-3 Bluetooth devices, the connection becomes unstable or stops completely. This error can be replicated with all driver versions that are newer than version 21.0.0.4 from 02/28/2019. There is a forum where this problem has been discussed since that time.

Personally, I can't connect more than one DS4 or DualSense controller. I've corresponded with Intel Support for the past two months. Unfortunately, the support obviously didn't listen to me properly and kept suggesting the same solutions to me. Uninstall everything, install the latest driver, try another Wifi Card... and so on. Of course, I had tried everything before opening a ticket. Well, I did all the required steps again. And it didn't helped nothing. Instead, the ticket was simply closed, with reference to the fact that it has to be a problem with the manufacturer of the gamepads. It's just strange that I also have problems with other Bluetooth devices from other manufacturers. In the end my conclusion was to use the old still working driver until the incompatibility is reached (or a security gap makes it too risky to use) or start a pedition.

So here it is. If you have a similar problem, feel free to sign this pedition to finally get Intel to move its ass.

Link to the mentioned forum:
https://community.intel.com/t5/Wireless/Can-Intel-AC-9260-Bluetooth-work-with-4-concurrent-PlayStation/td-p/662264