Kernel Panic with AMD Ryzen 5600x on CentOS 7

Recently, I upgraded my personal computer CPU from Intel Core i7 2600K (SandyBridge) to AMD Ryzen 5600x

The older processor was a decade old and the accompanying board didn’t support new age SSDs such as Nvme PCI 4 SSD

However, post upgradation, as soon as I booted my existing system running CentOS 7, I recieved a dreaded kernel panic very similar to BSOD in Windows

Turns out that latest AMD processors are not supported on Kernel 3.x which comes with CentOS 7. I had to upgrade it to Cent OS 8 which comes with Kernel 4.x