1) Have you installed Armoury Crate and updated to version 18.104.22.168, there may be updates for your ROG Azoth as well.
2) Is windows fully updated?
3) Have you updated to the latest bios for your motherboard?
4) Do the options on the OLED display change when you press the button on the side of the control knob?
I'm having the same problem all of a sudden. None of the options for control knob works. Pushing the side changes the mode of the knob but up down and in don't work.
Only customising an action works.