Welcome to the forum!
I could have sworn I replied to this yesterday.....
Anyway, I was going to post that the problem is not related to Trace Bitmap. The SVG file looks entirely fine. I was going to post that I thought the problem was related to Visio somehow.
I notice that there was something like 27,255 nodes in the original SVG file. We have seen that some viewers or other programs have a hard time handling vector file with an excessive number of nodes.
There may have been a single "line" in the orignal SVG file. But it was actually made up of a compound path - essentially 2 paths (inner and outer). But in this case, compound, many subpaths.
I'd be curious how many nodes are in the 2nd version of the file?
What you did by breaking apart the path, removing the fill, and applying a stroke, could have been achieved more easily by simply removing the fill of the original SVG, and apply a stroke.
I don't know if that would have fixed it for Visio as well. And I don't know if any of the work you did, might have coincidentally fixed the problem. You didn't say that you re-combined the paths, after you broke them apart. So it could be that simply having many, simple paths, rather than 1 very complex path, fixed it.
You could test, by going back to the original SVG file. And instead of what you did before, just remove the fill and add a stroke. The appearance of the drawing will not change. But it will still be a complex, compound path, rather than what you ended up with, apparently many separate, simpler paths.
Although if you are happy with the result, and aren't planning to do this anymore, maybe it doesn't matter to you. But if you plan to do it more in the future, it would be helpful to know what it was that fixed the problem.