This is almost certainly not a device fail.
I experienced the same exact problem here, and I am CONVINCED it's a tvOS 14 issue.
How do I know ?
I have had the combination Sony STR-DN1080 amp, Philips (and Samsung TV) and the HD version of AppleTV for quite a while, and CEC never worked for me, resulting in me disabling it and living with two/three remotes.
I always thought the issue was with the Sony, since there were lots of complaints online about a"non-compliant" CEC implementation from Sony....and you know, it's Sony....
However, to my surprise, when I upgraded to the 4K AppleTV, and (for fun) tried to turn HDMI-CEC on again, it suddenly worked flawlessly! I could switch on and off the TV, amp and AppleTV with one action (using just the Apple remote). I tried switching back to the HD AppleTV and it was broken again.
All right, I guessed whatever issue that was, had been resolved with the newer hardware of the 4K or something.
Now the funny part.....I moved my "old" Apple TV to another TV/amp combo (Onkyo amp and Grundig TV) and set up HDMI-CEC. One remote - worked! Huh? Maybe the issue was with the Sony after all? Oh, well.
So I lived the good life for almost a year, then one day Apple pushed out the tvOS 14 update.
Once both AppleTVs were upgraded to tvOS 14 - HDMI-CEC was broken.....again....and now in BOTH setups. WTH?!?
Specifically, although I could wake the AppleTV/amp from sleep using the Apple remote, both TVs refused to switch off once the Apple TV (4K + HD) went to sleep.
This is clearly a tvOS 14 bug that I hope Apple can get fixed ASAP.
Very annoying!