Ran into this issue today as well. My hardware is a Pi 3B with the boot
disk attached to a USB port.
I can still connect to the Pi via SSH, so it appears to be merely a
problem with the video output.
Current focal "daily-preinstalled" server images seem to be broken from
the get go. So for new in
Status changed to 'Confirmed' because the bug affects multiple users.
** Changed in: linux-firmware-raspi2 (Ubuntu)
Status: New => Confirmed
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https://bugs.launchpad.net/bugs/188878