Dnf upgrade fails with file /initramfs-5.14.0-503.35.1.e19_5.X86_64.img' not found

Multiple machines fail with the following error. Most of them are updated from the gui.

error:./../grub-core/fs/fshelp.c:257:file /initramfs-5.14.0-503.35.1.e19_5.X86_64.img' not found.
Press any key to continue...

The only solution I found is to boot into an older kernel and run:
sudo dracut --regenerate-all --force