The amplitude setting is set to the default value of 3, which is marked as "Reserved" on the datasheet. Initially we reconfigured the Amplitude setting to 4V (2) to get maximum sensitivity, however the proximity output would occasionally fluctuate outside of the normal noise floor. Normally the proximity output would fluctuate around 0x500 LSB, though occasionally we would notice the output change by 0x1000 LSB or more in one sample, then return to the normal noise floor.
Changing the amplitude setting back to 3, the default value, has fixed this problem, though we are curious why this setting works even though it is marked as reserved.