My PS2 FAT 50K had tripped PS7 fuse when I got it. So I swapped the tripped fuse with resettable fuse. I have been using my PS2 with Blueretro adapter. It didn't require using USB cable for additional power but recently, the Blueretro adapter would refuse to stay connected and LED would start blinking rapidly sometime after turning on. I had to connect USB cable to the adapter for additional power, otherwise, the adapter would keep blinking LED rapidly. Connecting DS2, the controller would work but rumble wouldn't work which is an indication of PS7 fuse tripping. Turning off PS2 and waiting for a bit to allow PS7 fuse to reset and then turning on PS2 would have working rumble for a few seconds before PS7 fuse would trip.
I figured probably controller/memory card port was shorting. So I opened up my PS2 and tried to disconnect controller port to check were it was shorting. But I mistakenly broke ribbon cable clamp. So I have connected my spare PS2 fat and have set aside that PS2 for the time being. I am trying to source a replacement controller port or find a replacement for that broken clamp.
Not that my issue aligns with yours but sounds similar to mine though if that adds anything.