Thanks again, @v-siky-msft. Unfortunately I'm not getting this workaround to function as expected. I will say that in my tests I was not having any problem with the base64 prefix as shown below:

Take a look at this though - this is the request and response shown in Monitor when the LookUp executes in the OnVisible event for the Expense Detail screen:
{
"url": "https://<someorg>.crm.dynamics.com/api/data/v9.0/msnfpe_expenses%2817663f85-6344-ea11-a812-000d3a579c85%29/msnfpe_expense_Annotations?%24select=annotationid%2Cmimetype%2Cdocumentbody",
"method": "GET",
"headers": {
"Accept": "application/json",
"Prefer": "odata.maxpagesize=500,odata.include-annotations=*",
"x-ms-user-agent": "PowerApps/3.20013.29 (Web AuthoringTool; AppName=dc680ca5-ce1f-4afe-b644-98ac6e0b2b0b)",
"x-ms-client-session-id": "1a71e699-08c1-4331-b4e7-7c1f3133a680",
"x-ms-client-request-id": "f59af616-24bf-4692-b7d4-6f7aad3efdc2",
"Request-Id": "f59af616-24bf-4692-b7d4-6f7aad3efdc2",
"Client-Session-Id": "1a71e699-08c1-4331-b4e7-7c1f3133a680",
"FormLoadId": "/providers/Microsoft.PowerApps/apps/dc680ca5-ce1f-4afe-b644-98ac6e0b2b0b",
"Accept-Language": "en-US",
"Cache-Control": "no-cache, no-store"
}
}
{
"duration": 846.85,
"size": 346723,
"status": 200,
"headers": {
"Cache-Control": "no-cache",
"content-encoding": "br",
"Content-Length": 346723,
"Content-Type": "application/json; odata.metadata=minimal",
"expires": -1,
"odata-version": 4,
"preference-applied": "odata.include-annotations=\"*\", odata.maxpagesize=500"
},
"body": {
"@odata.context": "https://<someorg>.crm.dynamics.com/api/data/v9.0/$metadata#annotations(annotationid,mimetype,documentbody)",
"@Microsoft.Dynamics.CRM.totalrecordcount": -1,
"@Microsoft.Dynamics.CRM.totalrecordcountlimitexceeded": false,
"value": [
{
"@odata.etag": "W/\"1226155\"",
"annotationid": "bda7b93b-1645-ea11-a812-000d3a579c98",
"mimetype": "image/png",
"documentbody": "iVBORw0KGgoAAAANSUhEUgAAAoAAAAHgCAYAAAA10dzkAAAgAElEQVR4XpS9B5dkyXUeGOmqunoGwHhvgYEhBVLL1dGvWnFXlAAQAim7f3ZXOgAxM91dXWn3fC7ivqisITdxcKYrzXvxIq75rl/9H//xt5fVetXa+dIu50vbrk5tu9m0zWrdTqdTO7VLw+...<shortened for brevity>"
},
{
"@odata.etag": "W/\"1299696\"",
"annotationid": "490f6674-b439-9717-904f-7accd1c12039",
"mimetype": null,
"documentbody": null
}
It is returning 2 records with accurate value information, but reporting a total record count of -1! Is this why IsBlank will always return true?