SEE UPDATE ON WORKAROUND BELOW.
This is a bug in the current version and recent versions of Edge. I've reported it to the developers and they say they're working on it. The same holds for Edge Beta. For both, when you try to get to the setting screens you get the favorites page. I was able to revert back to an Edge Beta version from mid-January 2025 to get a version where both the URL and settings bug wasn't present.
So it's not your Surface Duo that is the problem. It's the app.