On my 2020 Elite Dragonfly laptop, Windows Update settings page keeps saying "The Windows 10 May 2020 Update is on its way. Once it’s ready for your device, you’ll see the update available on this page."
I understand that an incompatibility issue with some SSD models caused BOD issues after Windows update to version 2004/20H2 on some laptops. This forced Microsoft to put a 'safeguard hold' on Windows 2004/20H2 updates on selected laptops. However, it looks like this hold was lifted on 11th December: error when plugging in a Thunderbolt NVMe SSD (microsoft.com)
Still, my Elite Dragonfly laptop would not update to Windows 2004/20H2.
There is this HP Support resource providing Windows version compatibility/support information for HP devices:
For Elite Dragonfly, it says 'Preinstalled' for Windows 2004, and 'Web support' for Windows 20H2 - though I was not able to fully decode the meaning of this - i.e. there is a lot of technical terms in the explanation, but it does not decisively say whether a given Windows version is supported or not.
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