The same behaviour was observed for my wireless card and a few more on other distributions that updated their kernel to version 5.5.0 including arch linux and gentoo and I think there is a patch available for it. As far as I know the issue was fixed on both Arch Linux and Gentoo on latest kernel update.
Here’s the link to the issue - Gentoo Forums :: View topic - iwlwifi Fails On Kernel 5.5.0 [solved]