In my opinion in your system is Secure Boot active or there are some keys deployed. Try to boot into BIOS, enable the secure boot and remove all deployed keys. Post a screenshot with the kernel panic information.
Well, the CPU is supported on Z490 and Z590. The problem is not in your CPU, the problem is somewhere in the configuration of OC and the BIOS settings. Try to remove the XMP memory profile, check if XHCI Handoff is set to Enabled and disable Legacy USB Support. Without kernel panic can't suggest more. Maybe is better to start with Ventura.