Broken console after latest Omega update

As I mentioned, if it's not among the ones listed, you should use OSU1

Except that the OP is running an Insiders build (the OS build information is the latest Insiders update) so your advice will likely lead to a broken console!

What the OP posted is a match to the lastest Omega ring update (also seems to match all the updates from all the rings) from 4th February, unless I am missing something:

"Xbox Insider Release Notes – Omega (2202.220202-1734)"

https://news.xbox.com/en-us/2022/02/04/xbox-insider-release-notes-omega-2202-220202-1734/

G'day,

These are the latest Xbox OS and also the Beta, Delta and Omega rings of Insider Preview Program are also on the latest release
to General Availability builds.

That is actually not a bad idea. Staying in the Omega ring has very low risk. But in case something does go wrong, one can still revert the firmware update if it was still an omega version. And then block firmware updates until a fix is available.

The main issue with this broken firmware release is that there is no way to roll back to an older firmware version.

There was an issue with the Xbox firmware Update in mid-October...as far as I am aware, it caused issues with XB1 and SX/S consoles. From what I understand, there may have been an update in the last couple of days to address this so check your console to see if there is one.

If there is no update, then it may be coming...an alternative would be to enroll in Insider's and get their latest Omega Update

Are you recording to internal or external storage? The latest forced Delta ring update (same update as Omega currently) on June 2 broke 4k capture again for me, SDR and HDR.