Any ideas

[fervent radish]

After looking further into batching, I'm gathering that MPBs are the way to go. I don't have a large amount of objects that will need this shader(s) and the data I control with the MPB will need to change very often.

Also, dynamic batching in particular does not always gain performance. It's very situational, even varying with the hardware.

[lime magnet]

Agreed.
All depends on use case. Just providing alternatives.
Hard to tell what the current status if MPB's are with shader graphs and URP. At one time they didn't work, except for a few things like _BaseColor. So instancing didn't work with them either.

But now, IDK. I suspect you have to hand write the shader though, not shader graph.

[fervent radish]

Shader graph definitely doesn't make MPB's easy. But theres a way I can access the code shader graph compiles right? I know some people have managed to hack MPBs into existing shader graph code.