There are issues with AMD's virtualization subsystem under newer Linux kernels (>= 5.5) that are essentially implementation issues, which is to say that in your case, the ultimate solution for the issue should come from Lenovo in the form of a BIOS update which corrects the manner in which the Ryzen virtualizations are initialized.
Of course that does nothing to solve your issue in the here and now, so until then you'll need to find the correct kernel command line parameters that will disable or degrade the virtualization subsystem to a point where the boot process is able to continue past it with at most an error, as opposed to a panic. I don't have any Ryzen systems so I can't offer much certainty, but I believe you'll need to add one of the follows sets of parameters to your kernel command line:
amd_iommu=off iommu=off amdgpu.noretry=0 nox2apic
I'm afraid these sorts of issues are most often resolved with this sort of trial and error approach to discover what works for your particular hardware setup. Assuming you're booting using GRUB, you would test these extra parameters by pressing the E key on your keyboard after highlighting the kernel entry you wish to boot, find the line of the boot script that begins with
linux (it's often indented from the left margin) and add these extra parameters to the end of the line. Then press Ctrl + X to boot using the edited kernel command line and cross your fingers. Once you find a combination that allows the system to boot successfully, you would make those new parameters permanent by editing the file
/etc/default/grub and placing them at the end of the line starting with
GRUB_CMDLINE_LINUX_DEFAULT, inside the closing quotation mark.
Depending on your need for hardware virtualization, another more straightforward approach would be to enter your UEFI BIOS settings by repeatedly tapping the F1 key on your keyboard at two second intervals immediately after powering it on, until the BIOS Settings are displayed, and looking for the entry containing "AMD" and "Virtualization" in the name and switching its value to "Off" or "Disabled". You could then wait for the next UEFI BIOS release for your system (the current version is 1.10, released 2021-01-25) and try re-enabling the virtualization setting after the update is successful.