Latest amdgpu firmware update breaks boot for 6.5.x and 6.4.x

This commit broke booting for me for 6.5-rc6 (and rc5) and 6.4.x:

https://git.kernel.org/pub/scm/linux/kernel/git/firmware/linux-firmware.git/commit/amdgpu?id=789aa81504126c2b062d04aacea1570af950ad4f

GPU: Sapphire Nitro+ 7900XTX.

I had to boot from another system on this computer, enter chroot into the broken one, revert that firmware update and update initrd image to fix it.