SSMS 19.3 Registered Servers

On my VM I open up 2 sessions of SSMS; 1 to Prod and 1 to Dev.  In the first session I open, I can see all my registered servers, including the folders I've organized them into; Dev, QC and Prod.  In the 2nd session of SSMS I don't see the same set of registered servers, and don't see any of the folders I've created.  I've even closed all instances of SSMS and re-opened them, but I still get the same experience.  So why does the first session I connect to show all the folders and registered servers but the second session shows me something completely different?  I'm running SSMS 19.3.4.0.  The attached pic shows my issue.

Thanks in advance