I received a brand-new Macbook Pro 16, i9, Radeon Pro 5500M a week ago, created a new user connected to iCloud and moved some applications and data to the new device and upgraded to 10.15.4. After I saw the same problems described above I tested the following, partly with the help of apple support (2 calls made), partly on my own:
Reformatted the disk and reinstalled 10.15.4 from scratch, created a new user and configured it with my iCloud during initial user setup. No data or settings transferred from my old machine.
SMC Reset
PRAM/NVRAM Reset
No other applications or device drivers (kernel extensions) installed
No other peripherals connected, no monitor connected, only the power supply via USB-C
created a test user, without configuring iCloud during setup.
Observations:
1) With my own user, putting the macbook to sleep (closing the lid), waking it up again (opening the lid) after 5 minutes: no problem, login via touch id possible.
2) With a test user, putting the macbook to sleep, waking it up again after 5 minutes: no problem, login via touch id possible.
3) With my own user, putting the macbook to sleep, waking it up again after more than 1 hour: laptop starts with white apple displaying and progress bar, thereafter touch id not possible, need to enter password, kernel panic report is shown after login. This behaviour is 100% reproducible, each time I leave the macbook in sleep mode for more than one hour.
4) With a test user, putting the macbook to sleep, waking it up again after more than 1 hour: no problem, login via touch id possible
5) With my own user, power nap disabled, waking it up again after 6-8 hours: no problem, login via touch id possible.
Conclusion: disabling power nap is a workaround for me. I haven't experienced the kernel panics in sleep mode thereafter.
I called apple support, told them I believe 10.15.4. has a bug with the new Macbook Pro 16, i9. Told them that it seems I am not the only person experiencing this problem, offering to give the this thread id, also mentioning a second thread.
apple support level 1 passed me on to level 2. Level 2 support told me he couldn't find in his support database anything regarding kernel panics after sleep with 10.15.4. He wasn't interested to be pointed to this thread and told me that to me it may look like a problem of general interest, but they receive so many reports, and my single call wouldn't be sufficient for him to escalate that further to engineering. He would need more proof to do that.
As the Macbook is brand-new, I expressed my concern that it might be a HW fault and that I would like to have the HW exchanged to exclude that it's a problem of my specific device. He said "he doesn't believe" that it's a HW problem.
He looked into his support instructions and asked me, if I had any third party kernel extensions, to which I told him (again) that it's pure 10.15.4., not even data copied from the old machine.
He looked into his support instructions and told me I could narrow down the problem, if I wanted to, by keeping power nap on, and disabling cloud services one by one, to see if it makes a differences. To which I answered that each test would take more than one hour and I would prefer that Apple engineering or quality assurance spends their time debugging. Rather than a customer who just spent a considerable amount of money for a brand new device.
So my confidence that Apple will take care of this problem soon is rather low. Apple support also told me he believed that if it's a general problem Apple engineering will become aware of it and fix it at some point in time, but he cannot tell me when.
That was long, but if you read until here thanks for letting me vent. :-)