What is the output of this command?
sudo grubby --info=DEFAULT
Did prior kernel updates go without issue or is 9.4 the base install and never updated till now?
Also if you have any added kernel parameters you have to run this command before booting into the new kernel:
grub2-mkconfig --update-bls-cmdline -o /boot/grub2/grub.cfg
This post here on the forum may be of interest:
https://forums.rockylinux.org/t/rocky-linux-9-5-sometimes-boot-into-emergency-mode-for-no-reason/16655