The key issue seems to be that a huge number of your interest points got removed as outliers. Maybe it is because this control is too tight: --remove-outliers-params '50.0 3.0 0.1 2.0'. For now, given that you have lens distortion, it is suggested to let as many features be in, so I would use here something like '75 3 50 50'. So, residuals of 50 pixels would be allowed. Bundle adjustment does well with high residuals, as internally it attenuates them, but it does not do well when too many matches are thrown out.
This one is likely excessive: --ip-num-ransac-iterations 500000. The default of 1000 should be fine. This one --ip-per-tile 200 could likely be increased to even 500 I think.
This one: --overlap-limit 2 could likely be increased. More images overlapping is better. Maybe having 5 or more is good.
This one: --heights-from-dem-uncertainty 10.0 can be quite tricky. It really depends on how good your DEM is, and your alignment. In your situation, may try to put this say to 100 or so. We don't want to tie too tightly to the DEM at this stage. You can check to see if there is misalignment between mapprojected images and your DEM. Misalignment is not good if this option is used.
I will suggest keeping the principal point fixed for now. Calibration of the principal point is not well-posed, because it correlates strongly with camera position. See option --intrinsics-to-float. Also option --intrinsics-to-share.
This is not great, but if you have enough images, it will likely work.
So, the most important thing you can do is to ensure you have a lot of "clean" interest point matches. These are the ones saved with suffix -clean.match, and are after outlier filtering. Any such clean matches can be reused at next stages, rather than creating them from scratch, with the option --clean-match-files-prefix.
You should have lots of clean matches, especially in corners, otherwise nothing will work.
It is also not clear to me how you evaluate if you need calibration to start with. Do you get a DEM with warping without that or with later triangulation error (ray intersection error)? Having good evaluation criteria is important.
May also consider not optimizing focal length at least to start with. Calibration is a bit tricky. One may need to think carefully about which parameters matter most early on.
So, my near-term suggestion is to ensure matches are plenty. You can write privately as well if this public discussion gets too lengthy. I am optimistic one can do well in your case, but more work may be needed.