Hi Michael,

As per your assist downloaded 64-bit PC (AMD64) server install image from "https://cdimage.ubuntu.com/ubuntu-server/daily-live/pending/" and tested it, Issue was still observed.

Please find the details:

"systemd-analyze-blame-output"

      13min 33.597s casper-md5check.service
      41.640s snapd.seeded.service
      29.360s snapd.service
      24.189s pollinate.service
      18.638s udisks2.service
      16.918s dev-sr0.device
      10.718s snapd.hold.service
      10.585s ModemManager.service
      10.085s snap.lxd.activate.service
       9.802s cloud-init-local.service
       9.375s snapd.apparmor.service
       9.059s thermald.service
       9.044s console-setup.service
       8.591s polkit.service
       7.693s e2scrub_reap.service
       7.348s systemd-logind.service
       7.220s rsyslog.service
       7.097s dev-loop8.device
       6.720s lvm2-monitor.service
       6.331s dev-loop7.device
       6.050s dev-loop6.device
       6.000s secureboot-db.service
       5.983s apport.service
       5.363s systemd-tmpfiles-setup.service
       4.766s dev-loop9.device
       4.074s dev-loop5.device
       4.073s dev-loop0.device
       4.072s dev-loop4.device
       3.766s snap-lxd-23537.mount
       3.432s multipathd.service
       3.372s snap-snapd-16292.mount
       2.970s systemd-resolved.service
       2.927s snap-core20-1611.mount
       2.376s plymouth-read-write.service
       2.234s keyboard-setup.service
       2.212s systemd-user-sessions.service
       2.040s systemd-udev-trigger.service
       1.672s finalrd.service
       1.483s systemd-sysusers.service
       1.460s cloud-init.service
       1.303s systemd-sysctl.service
       1.296s ufw.service
       1.261s systemd-journal-flush.service
       1.219s setvtrgb.service
       1.147s systemd-random-seed.service
       1.131s plymouth-quit.service
       1.103s systemd-modules-load.service
       1.032s dev-hugepages.mount
       1.030s dev-mqueue.mount
       1.029s sys-kernel-debug.mount
       1.028s sys-kernel-tracing.mount
       1.020s kmod-static-nodes.service
       1.019s systemd-journald.service
       1.014s modprobe@chromeos_pstore.service
       1.013s <email address hidden>
       1.012s <email address hidden>
       1.010s modprobe@efi_pstore.service
       1.009s <email address hidden>
       1.008s modprobe@pstore_blk.service
       1.006s modprobe@pstore_zone.service
       1.005s <email address hidden>
        801ms systemd-remount-fs.service
        712ms systemd-udevd.service
        700ms snap-subiquity-3798.mount
        558ms systemd-networkd.service
        471ms update-notifier-download.service
        378ms systemd-tmpfiles-setup-dev.service
        368ms cloud-config.service
        335ms cloud-final.service
        279ms sys-kernel-config.mount
        269ms sys-fs-fuse-connections.mount
        215ms systemd-timesyncd.service
        107ms systemd-update-utmp.service
         23ms systemd-tmpfiles-clean.service
         11ms systemd-update-utmp-runlevel.service
          9ms snapd.socket
          4ms tmp.mount
          4ms systemd-networkd-wait-online.service
          3ms plymouth-quit-wait.service
         17us blk-availability.service

"systemd-analyze-critical-chain-output"

The time when unit became active or started is printed after the "@" character.
The time the unit took to start is printed after the "+" character.

graphical.target @14min 7.154s
`-multi-user.target @14min 7.153s
  `-casper-md5check.service @33.554s +13min 33.597s
    `-basic.target @33.551s
      `-sockets.target @33.550s
        `-snap.lxd.user-daemon.unix.socket @1min 32.661s
          `-sysinit.target @33.513s
            `-cloud-init.service @32.046s +1.460s
              `-systemd-networkd-wait-online.service @32.038s +4ms
                `-systemd-networkd.service @31.473s +558ms
                  `-network-pre.target @31.470s
                    `-cloud-init-local.service @21.655s +9.802s
                      `-systemd-remount-fs.service @4.284s +801ms
                        `-systemd-journald.socket @4.031s
                          `--.mount @3.958s
                            `--.slice @3.958s

"cloud-init-analyze-blame-output"

-- Boot Record 01 --
     00.54400s (init-network/config-ssh)
     00.43600s (init-local/search-NoCloud)
     00.04200s (init-network/config-users-groups)
     00.02700s (modules-config/config-set-passwords)
     00.00800s (modules-final/config-final-message)
     00.00500s (init-network/check-cache)
     00.00100s (modules-final/config-scripts-user)
     00.00100s (modules-final/config-keys-to-console)
     00.00100s (init-network/consume-user-data)
     00.00100s (init-network/activate-datasource)
     00.00000s (modules-final/config-ssh-authkey-fingerprints)
     00.00000s (modules-final/config-scripts-per-once)
     00.00000s (modules-config/config-ssh-import-id)
     00.00000s (init-network/setup-datasource)
     00.00000s (init-network/consume-vendor-data2)
     00.00000s (init-network/consume-vendor-data)
     00.00000s (init-local/check-cache)

1 boot records analyzed

"cloud-init-analyze-show-output"

-- Boot Record 01 --
The total time elapsed since completing an event is printed after the "@" character.
The time the event takes is printed after the "+" character.

Starting stage: init-local
|`->no cache found @00.00300s +00.00000s
|`->found local data from DataSourceNoCloud @00.01500s +00.43600s
Finished stage: (init-local) 01.57200 seconds

Starting stage: init-network
|`->restored from cache with run check: DataSourceNoCloud [seed=/var/lib/cloud/seed/nocloud][dsmode=net] @02.94400s +00.00500s
|`->setting up datasource @02.98900s +00.00000s
|`->reading and applying user-data @02.99800s +00.00100s
|`->reading and applying vendor-data @02.99900s +00.00000s
|`->reading and applying vendor-data2 @02.99900s +00.00000s
|`->activating datasource @03.02400s +00.00100s
|`->config-users-groups ran successfully @03.05100s +00.04200s
|`->config-ssh ran successfully @03.09300s +00.54400s
Finished stage: (init-network) 01.16100 seconds

Starting stage: modules-config
|`->config-ssh-import-id ran successfully @76.25500s +00.00000s
|`->config-set-passwords ran successfully @76.25500s +00.02700s
Finished stage: (modules-config) 00.04800 seconds

Starting stage: modules-final
|`->config-scripts-per-once ran successfully @817.63600s +00.00000s
|`->config-scripts-user ran successfully @817.63600s +00.00100s
|`->config-ssh-authkey-fingerprints ran successfully @817.63700s +00.00000s
|`->config-keys-to-console ran successfully @817.63700s +00.00100s
|`->config-final-message ran successfully @817.63800s +00.00800s
Finished stage: (modules-final) 00.02800 seconds

Total Time: 2.80900 seconds

1 boot records analyzed