For anyone following along, this seems be have been broken with MacOS 14.4 (possibly even 14.3) and continues to be broken with 14.5. I'm not certain yet of the root cause but from what I've found from tracing Db2 and examining its error logs, I suspect the shared memory issue in the latest versions of Rosetta outlined here:

https://github.com/docker/for-mac/issues/7220

https://forums.developer.apple.com/forums/thread/746618