Do you have any overclocking configured? It might be worth clearing/resetting the CMOS to see if factory defaults allow the newer kernel to boot.
According to the manual, we can conclude something is not right with the hand off between the BIOS and 5.3 kernel:
AFExit Boot Services event
If you haven't already, you could try removing all components and plugging them in one at a time (RAM, GPU assuming CPU has internal graphics, storage) in case one of them is triggering the system lock up.