Map Caps Lock to AltGr and Escape - why does setxkbmap silence xcape daemon?

I'm on a 20.04 Ubuntu machine. I've been trying to use a combination of

and

to map AltGr and escape onto my caps-lock key, where a *quick key press* acts as **escape** and a *longer key press* acts as **AltGr**. I believed the desired behavior could be achieved by executing the following:

$ setxkbmap -option lv3:caps_switch
$ xcape -e 'Caps_Lock=Escape' -t 300

Once the setxkbmap command is executed however, the xcape process/daemon no longer makes caps-lock act as escape when tapped. I'm not entirely sure why since the **xcape process is still running**, so I might just simply be oblivious to how setxkbmap works (I tried executing the commands in a different order, with the same result). How would I go about achieving the desired behavior? Why does setxkbmap 'silence' the xcape daemon regardless of whether I execute xcape before/after executing the setxkbmap command?