External Monitor Output broken with Kernel 5.10 (Regression)

With Kernel 5.10 my external Monitor, (connected to a Laptop via HDMI output -> DVI converter -> DVI Input on the Display, is broken. The output is blue and blurry. The output is already broken in boot, before X even starts. It worked fine with Kernel 5.9.

Arch: x86_64

Model name: Intel(R) Core(TM) i7-10610U CPU @ 1.80GHz

Manufacturer: Dell Inc.

Product Name: Latitude 7410

Distro: Gentoo

But I did a bisect:

181567aa9f0d297804f1ea5d3ff4ba4518e05f2c is the first bad commit
commit 181567aa9f0d297804f1ea5d3ff4ba4518e05f2c
Author: Ville Syrjälä <ville.syrjala@linux.intel.com>
Date:   Fri Sep 4 14:53:54 2020 +0300

    drm/i915: Do YCbCr 444->420 conversion via DP protocol converters
    
    For platforms that can't do native 4:2:0 outout we may still be
    able to do it by getting the DP->HDMI protocol converter to
    perform the 4:4:4->4:2:0 downsamling for us. In this case we
    have to configure our hardware to output YCbCr 4:4:4, which we've
    already hooked up so all we need to do is flip the switch.
    
    Signed-off-by: Ville Syrjälä <ville.syrjala@linux.intel.com>
    Link: https://patchwork.freedesktop.org/patch/msgid/20200904115354.25336-19-ville.syrjala@linux.intel.com
    Reviewed-by: Lyude Paul <lyude@redhat.com>
    Acked-by: Daniel Vetter <daniel.vetter@ffwll.ch>

 drivers/gpu/drm/i915/display/intel_display_types.h |   1 +
 drivers/gpu/drm/i915/display/intel_dp.c            | 121 +++++++++++++++++----
 drivers/gpu/drm/i915/display/intel_hdmi.c          |   8 +-
 drivers/gpu/drm/i915/display/intel_hdmi.h          |   4 +-
 4 files changed, 109 insertions(+), 25 deletions(-)

dmesg.txt with drm.debug=0x1e log_buf_len=1M

NOTE: To recover from this issue a simple reboot to kernel 5.9 is not enough. I MUST turn off the laptop and wait a few seconds, otherwise the issue remains with kernel 5.9.