I had the same isue on a 2019 intel iMac, I had problems with a windows partition which I deleted and when I turned off my PC and a day later turned it on I was requested to update the mac, no escape from the update. I had to do it. I did it but then my mac started bootlooping when in MacOS. I tried re installing the MacOS using 3 recovery modes:
- Recovery mode with the current MacOS (Sonoma)
- Recovery mode with the newest available MacOS (Sequoia)
- Recovery mode with the MacOS which this iMac came in. (Big Sur or catalina)
none of them worked. I couldn't access the operating system, only the recovery modes. I tried even using terminal re-instalation. The last resolve for fixing the IAL issue was creating a bootable USB stick. I used my friend's Macbook and downloaded Sonoma like I used to. It worked very well. By the way, you can only use another MacOS computer to make a bootable USB stick. Windows Linux don't work. If you don't have a friend with a Mac nearby I suggest going to the nearest apple store and kindly asking to use the showcase Macs for creating. Note to that: do not ask the workers to do it for you, sometimes you can get charged for that, do it by yourself. Rember to ask the workers. Keep in mind that installation can take up to 2 hours, even with good wifi, but once you plug it into your computer it takes around 15 minutes as it doesn't comunicate with apple.com servers, only with the USB. Hope it helped (I am writing this from recovery mode as I had this problem once again)