Raspberry Pi 5 Mender U-Boot issue

I converted a raspberry pi 5 image to mender with mender-convert. Flashed it with raspberry pi flasher. When mounted on RPi5 and booted. The screen was blank with a small box containing submarine illustration and U-Boot on top right corner.

If I edit the config.txt and change the kernel to kernel_2712. Then the it stuck at (initramfs):
editing the cmdline.txt and hardcoding the PARTUUID of partition 02 will boot rpi but the OTA update (full OS update) will not work.

Someone please help.