I can confirm that in my case, similar to how other users have commented, having the NVIDIA modules to MODULES in /etc/mkinitcpio.conf causes the error to appear. If I don’t add the NVIDIA modules to mkinitcpio but instead I let the modules auto-load without any configuration, the error doesn’t appear.
Your profile says gtx 1650 - do you have nvidia modules added to MODULES in /etc/mkinitcpio.conf?