Same problem with two old HP LaserJet printers (HP LaserJet 2605dn and 1320dn).
I uninstalled all HP driver software using the utility I downloaded from HP Support.
Deleted the printers from Mac OSX.
Re-installed the printers with the Generic Postscript Driver
Now all working again, although Mac no longer recognises the actual printer model so not sure whether any functionality has been lost.
Weirdly both printers continue to work OK (without any changes) on one MacBook Pro, but not on any iMacs. Both went from Catalina to Big Sur same day.
I also had this very same problem with Canon printers a few Mac OS releases ago and scrapped two expensive printers and moved to HP.
Something needs to change between Apple and Printer Manufacturers.