I've been working on this problem for the past several weeks now during my time off work and I'm stumped!
I've searched many YT videos and most of them say to replace the belt. However, the belt tension is tight and has no problems turning. I created a series of videos showing what it looks like when I move the belt CW and CCW. Also, with and without the clutch engaged:
I hope this helps someone coming from Google to try and go for the low hanging fruit first. No websites or YouTube video mentioned checking your wave spring washers (on both rear wheels).
Before you remove the washers, take a photo so that you can remember the correct orientation when you put it back.