Chatted with Alex more. So the issue was a zero byte qcow2 file going into qemu-img convert. If this happens, it returns an exit code of "0" and creates a zero byte raw file. My best guess is it thinks it is actually reading a raw input as there is no header. It creates the output file which is also zero bytes. Anyhow, I've confirmed this is the case manually.
Chatted with Alex more. So the issue was a zero byte qcow2 file going into qemu-img convert. If this happens, it returns an exit code of "0" and creates a zero byte raw file. My best guess is it thinks it is actually reading a raw input as there is no header. It creates the output file which is also zero bytes. Anyhow, I've confirmed this is the case manually.