>>288650001
This is super common, I get it 3-5 times a week. Whenever you get it, you should do the following:
-End the oculus client via task manager
-Go to Services and restart the Oculus Runtime VR service
-Remove and re-insert your cable
-Start Oculus client again and check in devices to see if your Rift S is detected
Annoying but this fixes my issus and lets me get back in within 5 minutes. Restarting your PC also works but is more hassle.