In UE5 I've created simple widget:

<ListBox>
<ListBoxItem>Item 1</ListBoxItem>
<ListBoxItem>Item 2</ListBoxItem>
<ListBoxItem>Item 3</ListBoxItem>
<ListBoxItem>Item 4</ListBoxItem>
<ListBox.Style>
<Style TargetType="{x:Type ListBox}">
<Setter Property="Template">
<Setter.Value>
<ControlTemplate>
<Border Background="{StaticResource TransparentWhite}">
<ItemsPresenter />
</Border>
</ControlTemplate>
</Setter.Value>
</Setter>
</Style>
</ListBox.Style>
<ListBox.ItemContainerStyle>
<Style TargetType="{x:Type ListBoxItem}">
<Setter Property="Foreground" Value="Red" />
<Setter Property="Template">
<Setter.Value>
<ControlTemplate>
<Border Background="{StaticResource TransparentWhite}">
<ContentPresenter />
</Border>
</ControlTemplate>
</Setter.Value>
</Setter>
<Setter Property="ContentTemplate">
<Setter.Value>
<DataTemplate>
<Grid Background="Green" Margin="5" Focusable="False">
<TextBlock Focusable="False" Text="{Binding}" Style="{StaticResource Style.Text.T1}" Foreground="{Binding Foreground, RelativeSource={RelativeSource FindAncestor, AncestorType={x:Type ListBoxItem}}}" />
</Grid>
</DataTemplate>
</Setter.Value>
</Setter>
<Style.Triggers>
<Trigger Property="IsSelected" Value="True">
<Setter Property="Foreground" Value="Yellow" />
</Trigger>
</Style.Triggers>
</Style>
</ListBox.ItemContainerStyle>
</ListBox>

Then use controller and try to cycle through elements. In my case, focus is lost after focusing another element in the list.