The Terrain panel of the 3D configuration window allows selecting "DEM" as the type then selecting a layer for the elevation data, but it defaults to using the first band of that layer for elevation values with no obvious option for choosing a different band.
How can I get a 3D view to use the second, third, etc. band of a raster layer for elevation data? This is super easy to do for the main 2D view in the Layer Styling panel.