I know that are many reasons for this error but I found that for my case it was related to using D3DImage.

Here is link to the project that demonstrates problem : https://github.com/vladimir-cheverdyuk-altium/dx9host
Basically it is Microsoft code copied from here:
https://learn.microsoft.com/en-us/dotnet/desktop/wpf/advanced/walkthrough-creating-direct3d9-content-for-hosting-in-wpf?view=netframeworkdesktop-4.8
https://learn.microsoft.com/en-us/dotnet/desktop/wpf/advanced/walkthrough-hosting-direct3d9-content-in-wpf?view=netframeworkdesktop-4.8

It has project for .NET Framework and .NET6.

Steps:

1. You need 2 monitors with different screen resolution.
2. Start app on main monitor and maximize it
3. Power off this monitor or change display settings to display only on second monitor
4. Windows will move the application to the second monitor and it will crash with UCEERR_RENDERTHREADFAILURE

Source of the problem
It looks like IDirect3D9.GetAdapterMonitor will return 0 because monitor is powered off (or unavailable) and function pDisplaySet->GetDisplayIndexFromMonitor(hMon, uDisplayIndex) in CInteropDeviceBitmap::GetDisplayFromUserDevice will return E_INVALIDARG and this eventually will lead to crash.

So to me it looks like issue is in D3DImage that connected to adapter 0 while adapter 0 is disconnected from monitor.

Fix*
To fix it I declared private EventHandler renderingEventHandler; in MainWindow.xaml.cs then set rendering like this:

            renderingEventHandler = new EventHandler(CompositionTarget_Rendering);
            CompositionTarget.Rendering += renderingEventHandler;

and add these 2 lines to the end of constructor:

            Microsoft.Win32.SystemEvents.DisplaySettingsChanging += DisplaySettingsChanging;
            Microsoft.Win32.SystemEvents.DisplaySettingsChanged += DisplaySettingsChanged;

and lastly I added implementation:

        private void DisplaySettingsChanging(object sender, EventArgs e)
        {
            CompositionTarget.Rendering -= renderingEventHandler;
            d3dimg.Lock();
            d3dimg.SetBackBuffer(D3DResourceType.IDirect3DSurface9, IntPtr.Zero, true);
            d3dimg.Unlock();
        }

        private void DisplaySettingsChanged(object sender, EventArgs e)
        {
            POINT p = new POINT(imgelt.PointToScreen(new Point(0, 0)));

            HRESULT.Check(SetAdapter(p));

            CompositionTarget.Rendering += renderingEventHandler;
        }

and lastly I added 3rd parameter true to every call to SetBackBuffer and removed d3dimg.IsFrontBufferAvailable check in CompositionTarget_Rendering.

Does anybody know if this approach to detect monitor changes (using Microsoft.Win32.SystemEvents.DisplaySettingsChanging) is correct?

Just in case if somebody thing it is rare thing, we have 37933 crash reports from users for this issue. I'm not sure how many related to this particular reason but at least some are.
Here is one of reports from our customers: "I also get this issue on my Lenovo laptop when connecting/disconnecting external monitors." Some customers state that it happened when computer is going to sleep or perhaps when monitors going to sleep but I couldn't able to reproduce it.