I've had this exact issue and it's been driving me crazy. When I leave the machine idling and the screen goes to sleep it will crash and restart and the problem report says 'Thunderbolt power on failed'. The problem started on 10.15.4 but has continued on 10.15.5.
Reported it to Apple and initially they said it was likely down to some 3rd party app or software I had on the machine. They said it's difficult to identify which one is causing the problem so I had to go through several cycles of wiping the computer, reinstalling MacOS and reinstalling the 3rd party apps slowly one by one to find out which one was causing the problem. Eventually got down to just having the Microsoft Teams app installed and the panics were still happening but I thought it can't possibly be that that's causing the problem. So I did another wipe and reinstall but this time planned to run the MacBook completely clean for several days to see if it reoccurred and although it does run a lot better it has still happened on one occasion earlier today.
Not really sure where to go from here now. I think Apple are aware of this problem and are working on it but how long it will take to resolve no one knows.
I am glad that I’ve found this thread and understand a little better what the problem is and that others are experiencing the same, but I am still very angry that I’ve just spent £3000 on a computer and I’ve just got to accept it’s not going to work properly for several weeks / months. It’s a joke!!