I tried PdfDocument.EnableThreadSafe = true; and that didn't help.
Ultimately, I have a solution. I can switch between these two and can reproduce/fix the issue. I think the main factor is allowing some time to elapse before generating another PDF. FYI, the first PDF is what gets incorrectly rendered text, but the second one is fine.
Edit: In hindsight, I realized the code below doesn't reflect Syncfusion's code directly, but the key is to allow some time between PDF files.
//this works and results in correctly rendered text on both PDFs
var internalPdfStream = await CreatePdfStream(true);
var storageFileInternalPdf = await SavePdfStorageFile(internalPdfStream, "First PDF", pfolder);
await Windows.System.Launcher.LaunchFileAsync(storageFileInternalPdf);
//allows some time before second PDF is generated
var pdfStream = await CreatePdfStream(false);
var storageFilePdf = await SavePdfStorageFile(pdfStream, "Second PDF", pfolder);
await Windows.System.Launcher.LaunchFileAsync(storageFilePdf);
//this renders the first PDF with incorrectly rendered text
var pdfStream = await CreatePdfStream(false);
var internalPdfStream = await CreatePdfStream(true);
var storageFilePdf = await SavePdfStorageFile(pdfStream, "Second PDF", pfolder);
var storageFileInternalPdf = await SavePdfStorageFile(internalPdfStream, "First PDF", pfolder);
await Windows.System.Launcher.LaunchFileAsync(storageFileInternalPdf);
await Windows.System.Launcher.LaunchFileAsync(storageFilePdf);