Hi Morty,
The most updated reply from the R&D team.
I do the similar test in my side, and just one case can get the same issue as you share, that is enable "ESFC" bit in MCM_PLACR, if this bit is set, then MCU is stall when EEPROM do sector erase, after clear this bit, it can work well.

Yellow is to indicate the status of the EEPROM sector erasing , when it is low, EEPROM sector erase is on-going.
and Blue is to use one timer to toggle one GPIO in its ISR.
also please refer to attached code, and when input 'y' with UART1, it will trigger the EEPROM sector erase one time.
so conclusion is it allow EEPROM sector erase and flash read operation simultaneous,however, please note if enable "ESFC" bit, MCU will be stall when flash is busy.
Have a great day,
Ping
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