The two most common reasons for an issue like this are issues with third party software or a failing internal drive. A failing internal drive can sometimes interfere even when booting from external media if the drive failure is severe enough.
You can try running the Apple Diagnostics to see if any hardware issues are detected. Unfortunately the diagnostics don't detect most drive failures so you may also want to run DriveDx to check the health of the hard drive. Post the complete text report here using the "Additional Text" icon which looks like a piece of paper.
To look for possible software issues run EtreCheck and post the report here using the "Additional Text" icon which looks like a piece of paper.