Fedora 34 does not wake up from suspend

When the laptop suspends after being idle for a long time (or closing lid), it turns off the screen. When I open the lid and press buttons to wake it up, it does not. The keyboard backlight works but, the login screen is not shown. It remains completely black even after pressing the power button. I have to long-press the power button to force shutdown and power on again. Looks like a lot of people encountered a similar issue. Any updates, suggestions or solutions?

System: Kernel: 5.14.10-200.fc34.x86_64 x86_64 bits: 64 compiler: gcc v: 2.35.2-6.fc34 Desktop: GNOME 40.4
Distro: Fedora release 34 (Thirty Four)
Machine: Type: Laptop System: Dell product: G5 5505 v: 1.8.0 serial:
Mobo: Dell model: 0JT83K v: A02 serial: UEFI: Dell v: 1.8.0 date: 06/30/2021
Battery: ID-1: BAT0 charge: 38.6 Wh (91.5%) condition: 42.2/51.0 Wh (82.7%) volts: 12.2 min: 11.4 model: BYD DELL M4GWP0C
status: Discharging
Memory: RAM: total: 14.99 GiB used: 7.81 GiB (52.1%)
RAM Report: permissions: Unable to run dmidecode. Root privileges required.
CPU: Info: 8-Core model: AMD Ryzen 7 4800H with Radeon Graphics bits: 64 type: MT MCP arch: Zen 2 rev: 1 cache:
L2: 4 MiB
flags: avx avx2 lm nx pae sse sse2 sse3 sse4_1 sse4_2 sse4a ssse3 svm bogomips: 92620
Speed: 1397 MHz min/max: 1400/2900 MHz boost: enabled Core speeds (MHz): 1: 1397 2: 1398 3: 1397 4: 1397 5: 1397
6: 1397 7: 1397 8: 1397 9: 1397 10: 1397 11: 1397 12: 1397 13: 1397 14: 1397 15: 1397 16: 1397
Graphics: Device-1: Advanced Micro Devices [AMD/ATI] Navi 10 [Radeon RX 5600 OEM/5600 XT / 5700/5700 XT] vendor: Dell
driver: amdgpu v: kernel bus-ID: 03:00.0
Device-2: Advanced Micro Devices [AMD/ATI] Renoir vendor: Dell driver: amdgpu v: kernel bus-ID: 07:00.0
Device-3: Realtek Integrated_Webcam_HD type: USB driver: uvcvideo bus-ID: 3-2:2
Display: wayland server: [X.Org](http://X.Org) compositor: gnome-shell driver: loaded: amdgpu,ati
unloaded: fbdev,modesetting,radeon,vesa resolution: 1920x1080~120Hz
OpenGL: renderer: AMD RENOIR (DRM 3.42.0 5.14.10-200.fc34.x86_64 LLVM 12.0.1) v: 4.6 Mesa 21.1.8 direct render: Yes
Audio: Device-1: Advanced Micro Devices [AMD/ATI] Navi 10 HDMI Audio vendor: Dell driver: snd_hda_intel v: kernel
bus-ID: 03:00.1
Device-2: Advanced Micro Devices [AMD/ATI] Renoir Radeon High Definition Audio vendor: Dell driver: snd_hda_intel
v: kernel bus-ID: 07:00.1
Device-3: Advanced Micro Devices [AMD] Raven/Raven2/FireFlight/Renoir Audio Processor vendor: Dell
driver: snd_rn_pci_acp3x v: kernel bus-ID: 07:00.5
Device-4: Advanced Micro Devices [AMD] Family 17h HD Audio vendor: Dell driver: snd_hda_intel v: kernel
bus-ID: 07:00.6
Sound Server-1: ALSA v: k5.14.10-200.fc34.x86_64 running: yes
Sound Server-2: PipeWire v: 0.3.38 running: yes
Network: Device-1: Realtek RTL8111/8168/8411 PCI Express Gigabit Ethernet vendor: Dell driver: r8169 v: kernel port: 2000
bus-ID: 05:00.0
IF: enp5s0 state: up speed: 100 Mbps duplex: full mac:
Device-2: Intel Wi-Fi 6 AX200 vendor: Rivet Networks Killerâ„¢ driver: iwlwifi v: kernel port: 2000 bus-ID: 06:00.0
IF: wlp6s0 state: up mac:
IF-ID-1: virbr0 state: down mac:
Drives: Local Storage: total: 476.94 GiB used: 142.7 GiB (29.9%)
ID-1: /dev/nvme0n1 vendor: SK Hynix model: BC511 NVMe 512GB size: 476.94 GiB temp: 57.9 C
Swap: ID-1: swap-1 type: zram size: 8 GiB used: 392.5 MiB (4.8%) dev: /dev/zram0
Info: Processes: 424 Uptime: 5h 32m Init: systemd runlevel: 5 Compilers: gcc: 11.2.1 Packages: 4 note: see --pkg
Shell: Bash v: 5.1.0 inxi: 3.3.06