Lenovo replaced both the motherboard and docking station, but the problem is still present. However, I still believe it might be a hardware issue, since monitors also get dropped under Windows 10 or even in UEFI screen sporadically. Still communicating with Lenovo to investigate the issue.
With kernel version 5.6.0-1048-oem, the stack trace looks different, but the problem is still present.
[ 4881.023648] ------------[ cut here ]------------ gpu/drm/ amd/amdgpu/ ../display/ dc/dcn20/ dcn20_hwseq. c:1555 dcn20_program_ front_end_ for_ctx+ 0x574/0x580 [amdgpu] codec_realtek snd_hda_ codec_generic snd_hda_codec_hdmi nls_iso8859_1 snd_hda_intel snd_intel_dspcfg soundwire_intel soundwire_ generic_ allocation soundwire_cadence snd_hda_codec snd_soc_dmic snd_acp3x_rn snd_hda_core snd_acp3x_pdm_dma soundwire_bus tps6598x snd_soc_core snd_compress ac97_bus iwlmvm snd_pcm_dmaengine btusb edac_mce_amd snd_usb_audio btrtl btbcm snd_seq_midi snd_usbmidi_lib btintel kvm_amd mac80211 snd_seq_midi_event joydev snd_hwdep kvm serio_raw input_leds bluetooth libarc4 snd_rawmidi cdc_ether uvcvideo usbnet snd_pcm snd_seq wmi_bmof ecdh_generic videobuf2_vmalloc r8152 videobuf2_memops ecc videobuf2_v4l2 mii videobuf2_common videodev mc thinkpad_acpi ccp iwlwifi snd_seq_device nvram snd_timer snd_rn_pci_acp3x ledtrig_audio snd_pci_acp3x cfg80211 snd ipmi_devintf ipmi_msghandler ucsi_acpi soundcore typec_ucsi i2c_multi_ instantiate typec mac_hid sch_fq_codel parport_pc ppdev lp parport ip_tables x_tables autofs4 hid_generic 20UH001AGE, BIOS R1CET61W(1.30 ) 12/21/2020 program_ front_end_ for_ctx+ 0x574/0x580 [amdgpu] 9c7810 EFLAGS: 00010202 0(0000) GS:ffffa07c7f84 0000(0000) knlGS:000000000 0000000 state_no_ check+0x2cd/ 0x8a0 [amdgpu] state+0x96/ 0xb0 [amdgpu] dm_atomic_ commit_ tail+0x344/ 0x11d0 [amdgpu] cgs_read_ register+ 0x14/0x20 [amdgpu] reg_func+ 0x40/0xc0 [amdgpu] reg_get+ 0x22/0x40 [amdgpu] 0x19/0x30 bo_pin_ restricted+ 0x64/0x2b0 [amdgpu] move_to_ lru_tail+ 0x2d/0xc0 [ttm] unlock+ 0x26/0x30 backoff_ reservation+ 0x49/0x70 [ttm] bo_gpu_ offset+ 0x23/0xa0 [amdgpu] helper_ prepare_ fb+0x143/ 0x270 [amdgpu] 0x19/0x30 completion_ timeout+ 0x3a/0x120 0x19/0x30 completion_ interruptible+ 0x37/0x160 tail+0x99/ 0x130 [drm_kms_helper] helper_ commit+ 0x123/0x150 [drm_kms_helper] dm_atomic_ commit+ 0x95/0xa0 [amdgpu] commit+ 0x4a/0x50 [drm] connector_ commit_ dpms+0xdf/ 0x100 [drm] obj_set_ property_ ioctl+0x156/ 0x2d0 [drm] set_obj_ prop+0x90/ 0x90 [drm] property_ set_ioctl+ 0x3b/0x60 [drm] kernel+ 0xae/0xf0 [drm] 0x234/0x3d0 [drm] set_obj_ prop+0x90/ 0x90 [drm] drm_ioctl+ 0x4e/0x80 [amdgpu] 0x9d/0xd0 ioctl+0x1a/ 0x20 64+0x57/ 0x1b0 64_after_ hwframe+ 0x44/0xa9 c0edc8 EFLAGS: 00000246 ORIG_RAX: 0000000000000010
[ 4881.023782] WARNING: CPU: 1 PID: 1113 at drivers/
[ 4881.023783] Modules linked in: bnep snd_hda_
[ 4881.023814] usbhid hid dm_crypt amdgpu rtsx_pci_sdmmc amd_iommu_v2 crct10dif_pclmul gpu_sched i2c_algo_bit crc32_pclmul ghash_clmulni_intel ttm aesni_intel drm_kms_helper crypto_simd cryptd syscopyarea glue_helper sysfillrect sysimgblt fb_sys_fops cec psmouse rc_core i2c_piix4 drm nvme r8169 rtsx_pci nvme_core realtek wmi video i2c_scmi
[ 4881.023834] CPU: 1 PID: 1113 Comm: Xorg Tainted: G W 5.6.0-1048-oem #52-Ubuntu
[ 4881.023835] Hardware name: LENOVO 20UH001AGE/
[ 4881.023951] RIP: 0010:dcn20_
[ 4881.023953] Code: c0 74 cb 4c 89 e2 48 89 df e8 f8 36 dd fa eb be 49 8b 45 00 8b 90 e4 01 00 00 85 d2 75 d5 8b 86 4c 04 00 00 85 c0 75 cb eb a4 <0f> 0b e9 14 fb ff ff 0f 1f 44 00 00 0f 1f 44 00 00 55 48 89 e5 41
[ 4881.023954] RSP: 0018:ffffc08701
[ 4881.023956] RAX: ffffa07c6bec5c00 RBX: ffffa07c6bf50000 RCX: 0000000000000008
[ 4881.023957] RDX: 0000000000000001 RSI: ffffa07bd83e0000 RDI: ffffa07c6bf50000
[ 4881.023958] RBP: ffffc087019c7848 R08: 0000000000000001 R09: 0000000000000000
[ 4881.023959] R10: 0000000000000001 R11: 0000000000000004 R12: ffffa07bd83e0000
[ 4881.023960] R13: ffffa07bd83e01b8 R14: ffffa07bd83e01b8 R15: 0000000000000000
[ 4881.023962] FS: 00007f5369b0ca4
[ 4881.023963] CS: 0010 DS: 0000 ES: 0000 CR0: 0000000080050033
[ 4881.023964] CR2: 000055bf4e2329c8 CR3: 00000003f6eb2000 CR4: 0000000000340ee0
[ 4881.023965] Call Trace:
[ 4881.024076] dc_commit_
[ 4881.024177] dc_commit_
[ 4881.024287] amdgpu_
[ 4881.024387] ? amdgpu_
[ 4881.024484] ? dm_read_
[ 4881.024576] ? generic_
[ 4881.024582] ? _cond_resched+
[ 4881.024658] ? amdgpu_
[ 4881.024665] ? ttm_bo_
[ 4881.024668] ? ww_mutex_
[ 4881.024673] ? ttm_eu_
[ 4881.024748] ? amdgpu_
[ 4881.024852] ? dm_plane_
[ 4881.024855] ? _cond_resched+
[ 4881.024858] ? wait_for_
[ 4881.024859] ? _cond_resched+
[ 4881.024861] ? wait_for_
[ 4881.024877] commit_
[ 4881.024887] drm_atomic_
[ 4881.024990] amdgpu_
[ 4881.025013] drm_atomic_
[ 4881.025031] drm_atomic_
[ 4881.025051] drm_mode_
[ 4881.025070] ? drm_connector_
[ 4881.025086] drm_connector_
[ 4881.025103] drm_ioctl_
[ 4881.025119] drm_ioctl+
[ 4881.025134] ? drm_connector_
[ 4881.025209] amdgpu_
[ 4881.025213] ksys_ioctl+
[ 4881.025216] __x64_sys_
[ 4881.025219] do_syscall_
[ 4881.025223] entry_SYSCALL_
[ 4881.025225] RIP: 0033:0x7f5369e6c50b
[ 4881.025227] Code: 0f 1e fa 48 8b 05 85 39 0d 00 64 c7 00 26 00 00 00 48 c7 c0 ff ff ff ff c3 66 0f 1f 44 00 00 f3 0f 1e fa b8 10 00 00 00 0f 05 <48> 3d 01 f0 ff ff 73 01 c3 48 8b 0d 55 39 0d 00 f7 d8 64 89 01 48
[ 4881.025228] RSP: 002b:00007ffca7
[ 4881.025230] RAX: ffffffffffffffda RBX: 00007ffca7c0ee00 RCX: 00007f5369e6c50b
[ 4881.025231] RDX: 00007ffca7c0ee00 RSI: 00000000c01064ab RDI: 000000000000000d
[ 4881.025231] RBP: 00000000c01064ab R08: 0000000000000000 R09: 00007f5369744d10
[ 4881.025232] R10: 00007f5369744d20 R11: 0000000000000246 R12: 000055bf4e6e33f0
[ 4881.025233] R13: 000000000000000d R14: 0000000000000000 R15: 000055bf4e255980
[ 4881.025236] ---[ end trace 454162de3e2a2fb8 ]---
Complete "dmesg" output is attached.
Lenovo replaced both the motherboard and docking station, but the problem is still present. However, I still believe it might be a hardware issue, since monitors also get dropped under Windows 10 or even in UEFI screen sporadically. Still communicating with Lenovo to investigate the issue.