I dig around your(nvidia) tech support forums and found (so far) there 3 other threads (342811, 342924 and 300161) linked below.
They ALL point to the same problem:
OemKeyValid bit not set in first board and results in the same problem.
OemKeyValid bit set in 2nd board and works well.
There is no solution provided to recover the first board and the thread was closed.
I am seeking a solution to recover the first board. I believe this is an undocumented bug in BootROM. At a minimum, the document is misleading. OemKeyValid bit, by common sense, makes people think it is related to OemK1 & OemK2, and should NOT be related to SBC key.