I might have a work around for this using the example provided in the documentation as a template. Hopefully this will help someone. My logic is that I count each sort click with a max of 3 options; ascending, descending, and none. On first sort, I manually change the sort from ascending to descending. On the second click, I set it to ascending. And on the third click I clear the sort. If at any time sorting is initiated on a new column, the count is reset. There is also a check against a list so that only field names in that list will get adjusted to a reverse sort order.

First to you code behind partial class (or in the code section on the razor page) add the following variables:

private string reverseSortColFieldName = null;
private int reverseSortColCount = 0;
private List<string> reverseSortColFieldNames = new List<string>()
{
    new string("col1 field name"),
    new string("col2 field name"),
    new string("col3 field name"),
};

In the list, use the field name for that column. So for example, if the first column I wanted to have reverse order had a name of Valuation, I would add new string("Valuation") to the list. You can have as many columns as needed which need a reverse sort order in this list.

Next you can copy the following logic from the documentation.

// Note: This can cause a performance delay if you do long operations here
// Note 2: The grid does not await this event, its purpose is to notify you of changes
// so you must not perform async operations and data loading here, or issues with the grid state may occur
// or other things you change on the page won't actually change. The .SetStateAsync() call redraws only the grid, but not the rest of the page
        private async Task OnStateChangedHandler(GridStateEventArgs<YourClassNameHere> args)
        {
            if (args.PropertyName == "SortDescriptors") // sorting changed
            {
                // ensure certain state based on some condition
                // in this example - ensure that the ID field is always filtered with a certain setting unless the user filters it explicitly
                var sortDescriptors = args.GridState.SortDescriptors;
                reverseSortColCount++;
                if (sortDescriptors.Count > 0)
                {
                    var descriptor = sortDescriptors.First();
                    if (reverseSortColFieldName != descriptor.Member)
                    {

                        // This means that a new column is being sorted, so reset the count

                        reverseSortColCount = 1;
                    }
                    reverseSortColFieldName = descriptor.Member;

                    if (reverseSortColFieldNames.Contains(descriptor.Member))
                    {
                        if (descriptor.SortDirection == Telerik.DataSource.ListSortDirection.Ascending)
                        {
                            descriptor.SortDirection = Telerik.DataSource.ListSortDirection.Descending;
                        }
                        else if (reverseSortColCount == 3)
                        {
                            // clear the sort and reset count back to zero and clear field name
                            sortDescriptors.Clear();
                            reverseSortColCount = 0;
                            reverseSortColFieldName = null;
                        }
                    }
                    else
                    {
                        // Clear out reverse sorting data
                        reverseSortColFieldName = null;
                        reverseSortColCount = 0;
                    }
                }
                else
                {
                    if (reverseSortColCount == 2)
                    {
                        // If it's the second click, there won't be any sort descriptors because
                        // the grid goes from decending to off. So we need to make sort ascending
                        Telerik.DataSource.SortDescriptor newDescriptor = new Telerik.DataSource.SortDescriptor();
                        newDescriptor.SortDirection = Telerik.DataSource.ListSortDirection.Ascending;
                        newDescriptor.Member = reverseSortColFieldName;
                        sortDescriptors.Add(newDescriptor);
                    }
                }

                // needed only if you will be overriding user actions or amending them
                // if you only need to be notified of changes, you should not call this method
                await GridRef.SetStateAsync(args.GridState);
            }
        }

And finally on your razor page on the TelerikGrid element add the following attribute in order to call the code above.
OnStateChanged="@((GridStateEventArgs<YourClassName> args) => OnStateChangedHandler(args))"