I experienced the same issue on my PC.
My system is a Dell XPS 8700 running Windows 10 22H2 with KB5120249 installed. After installing KB5120249, the entire system would freeze approximately 5 minutes after Windows started.
After some investigation, I found that disabling the following scheduled task appears to prevent the freeze on my system:
Microsoft\Windows\PI\Secure-Boot-Update
I disabled it using the following command from an elevated Command Prompt:
schtasks /Change /TN "\Microsoft\Windows\PI\Secure-Boot-Update" /Disable
With this task disabled, my PC no longer freezes after approximately 5 minutes.
I also found something that may help identify the cause. While the system was running normally with the task disabled, manually running the same task with the following command caused the entire PC to freeze immediately:
schtasks /Run /TN "\Microsoft\Windows\PI\Secure-Boot-Update"
I was able to reproduce this immediate freeze multiple times.
Therefore, at least on my Dell XPS 8700, execution of the Secure-Boot-Update scheduled task appears to be the trigger for the system freeze.
Please note that disabling this task may prevent Secure Boot-related servicing or updates, so I consider this a temporary workaround/troubleshooting measure rather than a permanent solution.
I hope this information helps others experiencing the same issue.