Ubuntu 24.04 server with NetworkManager does not configure eth0

Question

I installed 24.04 server on a Raspberry Pi 4. The initial boot recognizes eth0. After I installed NetworkManager, I created a netplan configuration for eth0, wlan0, and wlan1. Upon reboot, eth0 was not configured. I have tried removing systemd-networkd from the machine, but that makes no difference. My netplan configuration is:

network:
  version: 2
  renderer: NetworkManager
  ethernets:
    eth0:
      dhcp4: true
      optional: true
  wifis:
    wlan0:
      dhcp4: true
      dhcp4-overrides:
         route-metric: 301
      addresses:
         - 192.168.10.1/24
      optional: true
      access-points:
        "my-ap":
          auth:
            key-management: psk
            password: "password"
          mode: ap
          band: 5GHz
    wlan1:
      dhcp4: true
      dhcp4-overrides:
         route-metric: 300
      optional: true
      access-points:
        "my-wlan":
            password: "password"

My ifconfig output looks like:

eth0: flags=4163<UP,BROADCAST,RUNNING,MULTICAST>  mtu 1500
        inet6 fd0e:cdb:1b71:7277:e65f:1ff:fe2e:e8cc  prefixlen 64  scopeid 0x0<global>
        ether e4:5f:01:2e:e8:cc  txqueuelen 1000  (Ethernet)
        RX packets 3156  bytes 521284 (521.2 KB)
        RX errors 0  dropped 239  overruns 0  frame 0
        TX packets 63  bytes 10438 (10.4 KB)
        TX errors 0  dropped 0 overruns 0  carrier 0  collisions 0

lo: flags=73<UP,LOOPBACK,RUNNING>  mtu 65536
        inet 127.0.0.1  netmask 255.0.0.0
        inet6 ::1  prefixlen 128  scopeid 0x10<host>
        loop  txqueuelen 1000  (Local Loopback)
        RX packets 96  bytes 7352 (7.3 KB)
        RX errors 0  dropped 0  overruns 0  frame 0
        TX packets 96  bytes 7352 (7.3 KB)
        TX errors 0  dropped 0 overruns 0  carrier 0  collisions 0

wlan0: flags=4163<UP,BROADCAST,RUNNING,MULTICAST>  mtu 1500
        inet 192.168.10.1  netmask 255.255.255.0  broadcast 192.168.10.255
        inet6 fe80::e65f:1ff:fe2e:e8cd  prefixlen 64  scopeid 0x20<link>
        ether e4:5f:01:2e:e8:cd  txqueuelen 1000  (Ethernet)
        RX packets 105  bytes 17535 (17.5 KB)
        RX errors 0  dropped 0  overruns 0  frame 0
        TX packets 33  bytes 3109 (3.1 KB)
        TX errors 0  dropped 0 overruns 0  carrier 0  collisions 0

wlan1: flags=4163<UP,BROADCAST,RUNNING,MULTICAST>  mtu 1500
        inet 192.168.0.138  netmask 255.255.255.0  broadcast 192.168.0.255
        inet6 fd0e:cdb:1b71:7277:b7ff:f07d:3573:1127  prefixlen 64  scopeid 0x0<global>
        inet6 fe80::9618:65ff:fe5d:28d0  prefixlen 64  scopeid 0x20<link>
        inet6 fd0e:cdb:1b71:7277:9618:65ff:fe5d:28d0  prefixlen 64  scopeid 0x0<global>
        ether 94:18:65:5d:28:d0  txqueuelen 1000  (Ethernet)
        RX packets 6448  bytes 1107902 (1.1 MB)
        RX errors 0  dropped 10  overruns 0  frame 0
        TX packets 761  bytes 129520 (129.5 KB)
        TX errors 0  dropped 0 overruns 0  carrier 0  collisions 0

I have also disabled the cloud-init netplan as indicated in the 50-cloud-init.yaml file. Presumably, NetworkManager can work on a server. Is there additional configuration that I am missing?