SMC and/or T2 chip issue after MacOS 12.5.1 update

Try running the Apple Diagnostics to see if any hardware issues are detected.

Disconnect all external devices from the laptop in case one of them is causing a problem.

Are you performing the SMC correctly? The procedure for the 2018+ Macs has changed so make sure to read this Apple article:

Reset the SMC of your Mac - Apple Support

Try booting into Safe Mode to see if restarting works properly. If so, then you likely have some third party software installed which is interfering with the normal operation of macOS. If this is the case you can run EtreCheck and post the report here using the "Additional Text" icon which looks like a piece of paper.

Did you use the "Revive" function or the "Restore" function? There is a huge & important difference. You may need to resort to the "Restore" option which destroys all data on the laptop requiring a restore from a backup. Best to test the laptop with the clean OS before migrating/restoring from a backup and before installing any third party apps.

Do you have the issue with all of the USB-C ports regarding the external SSD and display? Make sure to try it using another USB-C port especially on the other side of the laptop. Charging and data connections use different circuits meaning one may work while the other may not. Also try rotating the USB-C connector on the cable 180 degrees upside down as it may allow a device to work if the USB-C port is half bad. Make sure to connect the external devices directly to the laptop for testing.

If the laptop won't power on, then try disconnecting the charger for a moment, then reconnecting the charger. Do you hear the "ding" when connecting the charger or shortly afterwards? Try leaving the laptop for about 30 minutes to see if it will automatically power on, then try to power on using the power button.

Unfortunately these USB-C Apple laptops have a lot of quirks and this type of issue is unfortunately somewhat common in my experience with our organization's Macs. Sometimes it is hard to know what is normal and what is abnormal.

Most of these tips are only to help you try to power on the laptop until you can get it repaired by Apple or an Apple Authorized Service Provider.

FYI, please don't post your system serial number on public forums. I'm asking the moderators to edit your post to remove it. You can get the exact model of the Mac by clicking the Apple menu and selecting "About This Mac". The model listed there is what we need to properly identify the exact model of Mac.

The exact model of this Mac according to the now redacted serial number is: MacBook Pro 13" (2020 with four TB3 ports).

Here's apple's guidance: If your Mac doesn't turn on - Apple Support

Not the admonition to contact Apple Support if it doesn't work.