Some previously undocumented details on this metric.
The ConnectionStatus metric for agents does not reflect an interrupted connection (neither between agent and collector nor between Cloud Proxy and Cloud Gateway).
Instead ConnectionStatus will stay Connected for 20 minutes and then as Disconnected for 30 minutes and then cease. Rendering ConnectionStatus useless for alerting.
Unfortunately all the JavaScript calculators I have seen simply consolidates ConnectionStatus without fixing it.
The AgentConnectivity JavaScript calculator produces a Connection State that reflects this correctly: https://github.gwd.broadcom.net/ESD/APM-Agent-Connectivity