I was able to find the answer after some trial and error / tons of searching, this looks like the correct filter, just need to make sure we’re in the admin section and we’re in the correct taxonomy.
/**
* Modify the admin listed order of terms
*
* @param String $orderby
* @param Array $args
* @param Array $taxonomies
*
* @return String $orderby
*/
function change_term_order( $orderby, $args, $taxonomies ) {
if ( is_admin() && 'tax_products' !== $taxonomies[0] ) {
return $orderby;
}
$orderby = 'term_group';
$args['order'] = 'ASC';
return $orderby;
}
add_filter( 'get_terms_orderby', 'change_term_order', 10, 3 );