Thank you all.
Here's the latest, and hopefully the last update. To recap, I ruled out the damaged cable by doing continuity tests on the power chord.
Since the weekend, I did further investigation (aka ChatGPT) - and narrowed down it to three possible root causes.
(a) The Switch (to be specific, the Noise/EM filter capacitor inside it)
(b) Motor
(c) It was just a static shock. Non Contact testers can dish out false positives, and I didn't trust my multimeter or my skills enough to measure the voltage between the metal cabinet and ground. I couldn't get a 120 V reading on my multimeter when I tested it against the socket. (More on this later).
With the help of ChatGPT, I ruled out (b) - did continuity tests for line (black) & neutral (white) wires of the motor with the metal cabinet. I replaced the switch.. but I still got 2 bars on the non-contact tester. Unwilling to touch the cabinet for safety reasons, I got hold of another electrician to diagnose and confirm things were okay. He performed all the diagnostics and declared that the machine was safe to operate.
At this point, it could be (a) or (c). And, he verified it by measuring the voltage between the metal cabinet and the motor housing.. and touched the metal cabinet while I was cutting a piece of lumber. Also, he told me that they don't use multimeter to measure voltage out of the sockets because the contact points are not uniform.. and he uses a plug-in type meter to measure voltage.
So, in summary, it could either be a static zap or a faulty switch. And, the switch replacement should resolve it if it was the latter.
I sincerely appreciate all of you chipping in with your thoughts & troubleshooting steps to guide me - despite being very new to the site!
For those interested in the ChatGPT troubleshooting - here are the chat threads.
ChatGPT - Table saw shock diagnosis
ChatGPT - Test DWE7491 capacitor