Thank you everyone for the help. The problem has been resolved. Here is what I did, in case someone else is facing the same problem:
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Turned off dynamic IP for the bridge and set it up for static IP. There is an article under “Resources\How To” on this site that can help with doing this.
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Once I restarted the DAC, I could see the upgrade option for the bridge… something that was N/A previously.
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I upgraded the bridge. Interestingly, the bridge firmware version was still 0.0.0.
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Now, Roon can see the DAC under Roon Ready devices as stated by ksalno.
Now, I have another problem… Roon is only playing mp3’s… lossless files (flacs) start and then stop with a message “file is taking too long to load”… I guess that would require some more digging…