"Gave up waiting for root file system device" happening seemingly randomly

I have a LattePanda alpha. I installed Ubuntu Server 20.04 on an SD card and configured the BIOS to boot from the SD card as the first option. I created a patched Linux kernel with the realtime patch and installed it on the system. The kernel and patch version is 5.4.19.

The system works well overall, but sometimes, the board won't boot. When plugging a screen, I get the following error.

mdadm: No arrays found in config file or automatically
mdadm: No arrays found in config file or automatically 
mdadm: No arrays found in config file or automatically
done.  
Gave up waiting for root file system device. Common problems:
 - Boot args (cat /proc/cmdline) 
   - Check rootdelay= (did the system wait long enough?)
 - Missing modules (cat /proc/modules: ls /deu)  
ALERT! UUID=7ae1fce6-e71a-4425-82f2-d67c709816ba does not exist. Dropping to a shellt

BusyBox u1.30.1 (Ubuntu 1:1.30.1-4ubuntu6.3) built-in shell (ash)  
Enter 'help' for a list of built-in commands.

(initramfs) [ 93.7995421 001: 1915 0000:00:02.0: HDMI-A-1: EDID is invalid: 
[ 93.7995451 001: [001 ZERO 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00
[ 93.7995461 001: [00] ZERO 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00
[ 93.7995461 001: [00] ZERO 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00
[ 93.7995471 001: [00] ZERO 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00
[ 93.7995471 001: [00] ZERO 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00
[ 93.7995481 001: [00] ZERO 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 
[ 93.7995481 001: [00] ZERO 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00
[ 93.7995481 001: [00] ZERO 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 
[ 95.1373971 001: fbcon: 1915drmfb (fb0) is primary device
[ 95.1554721 001: Console: switching to color frame buffer device 128x37 
[ 95.1729481 001: 1915 0000:00:02.0: fb0: 1915drmfb frame buffer device

I was not able to find a difference between the time it does boot and the time the error happens.
When the error happens, rebooting the board fixes the problem (sometimes multiple reboot are necessary).

I tried changing the SD card.

Every other instance of this error seems to be consistent and related to the installation of some kernel module on the system, but as the system seems to work most of the time I have some difficulties understanding what could cause this issue.

Do you have any suggestions that could help me find the source of the issue?