1/4" bit keeps getting deeper and deeper

1/4" bit keeps getting deeper and deeper til it cuts into the spoilboard. Trying to do a rough cut before I do the finish cut. I have tried twice with the same results. I am new, but, I believe I have followed some instructional videos. Is the rough cut necessary, or can you just go to the finish bit, a tapered ball nose?

The first thing that comes to mind for me is the possibility that the cutter may be slipping in the collet. That is a common concern in milling. If a cutter slips it will most likely move down.

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