When I was digging around kernel.org's bugzilla reports, I seem to remember quite a few KVM/QEMU kernel issues, some specifically related to the N5105 CPU.which would be a data point for "something in Ubuntu's kernel patch set" could you try with the corresponding mainline kernel I linked above? on Ubuntu you should be able to just install them without the need to repack, since their dpkg is patched to support zstd.
Also, is it not possible to narrow down the issue based on the logs I've posted? I put the kernels in debug mode and ran remote logging to capture as much of the panic as possible.