Connex 3300 - ZX? (Hmm ok...)
The Connex board if it's the one I'm thinking of, they use a Quad Op amp to make the RF / S meter, Squelch and AGC all work together. (IC1)
So if no squelch, you may have a bad solder joint inclusive on that, meaning there may be more than one reason for Squelch not to work right.
Check your radios' headers, the ones from front panel to radio board - make sure they are soldered and no shorts or cold blobbing. Same for in and around IC1.
There is also a Trimmer VR4 that also plays a role too,