Chrome specific. User error on my behalf, but it wasn't clear to me that it was the issue.
GPO details:
Choose how to specify proxy server settings:
Allows you to specify the proxy server used by Google Chrome and prevents users from changing proxy settings.
If you choose to never use a proxy server and always connect directly, all other options are ignored.
If you choose to use system proxy settings or auto detect the proxy server, all other options are ignored.
If you choose fixed server proxy mode, you can specify further options in 'Address or URL of proxy server' and 'Comma-separated list of proxy bypass rules'.
If you choose to use a .pac proxy script, you must specify the URL to the script in 'URL to a proxy .pac file'.
If you enable this setting, Google Chrome ignores all proxy-related options specified from the command line.
Leaving this policy not set will allow the users to choose the proxy settings on their own.