If the transducer checks do not reveal a problem, I offer another suggestion: If you have not deleted your "Active Tracks", then do so. It seems that storing too many Tracks uses memory that the depth sounder needs for processing, and the result -- at least in my case -- is that the depth display shows dashes. Deleting the stored Active Tracks and restarting the GPS unit (power Off/On) restored depth operation.
I am indebted to someone on TugNuts for this insight -- it was some time ago and was buried in an even more diverse helpful message, but I cannot recover the name for attribution. For reasons that I cannot comprehend, Garmin does not display a warning of the memory overflow, nor can I find any hint of the issue in their printed instructions.
-- John H