The power led is also blinking once per second. No TCP connection?
For ESP32 firmware it ALWAYS worked ONLY via USB using the web flasher from this address: https://xzg.xyzroe.cc/install/. But from within the UZG-01 web interface (OTA) sometimes it works and sometimes not, so the OTA is unreliable for the momment.
Then after having the latest ESP32 firmware, for the Z-Stack (zigbee) firmware it always worked from within the UZG-01 web interface (OTA) → Tools → Firmware → Zigbee → Show available and picking the desired version from the list.
I haven’t tried with the MultiTool.