With way too much time on my hands, I dug around a bit in the kernel boot logs between a kernel that works and the Ubuntu borked kernels, (that now includes 5.19.0-35, still not fixed) I find an interesting issue.
The kernels that don't work are failing to load the vmwgfx driver with an error message that the vmwgfx driver couldn't get access to a region of memory. The ones that do are loading the driver normally.
Doing a web search on the error message indicated an eerily similar error reported to the Linux kernel maintainers last year. It seems to point to a kernel bug where EFI firmware console driver memory isn't released so that the Linux frame buffer (and vmwgfx) drivers can get access to it.
That particular bug was fixed in 5.19.
If this is indeed what's going on, why on earth did the Ubuntu kernel developers fail to include those fixes they obviously had in the 5.19.0-29 version in the 5.19.0-31 and later?