Shutdown/restart screen is missing

Hello, my OS stopped to show shutdown/restart screen phase text (Restarting.../Shutting down...), there's just blank black screen.
Since the system restarts/shuts down it may be a cosmetic issue but also can indicate something deeper is broken, so I'd prefer to have it fixed.
There's no error messages or unusual behaviour otherwise, I'm having 23H2 updated to Moment 5 recently. Can I get some ideas what gone wrong?

Are you certain the computer is transitioning into either of those power states and not going into sleep or crashing instead..
If you tell it to shutdown, do all lights go off?
Please fill out your system specs section of your forum profile. Be sure to list version and build of windows.Open cmd prompt as admin and type winver
If the issue started with an update, you first need to eliminate the update being the problem. Uninstall the update to see if it returns to normal.
Settings > Update & Security > Windows Update > View update history > Uninstall updates.

I suggest you make a system image as precaution.

Just a thought, you haven't got HDR turned on in your display settings have you? I found when Windows goes in and out of HDR mode, my monitor seems to takes ages to automatically switch between the two modes and I got a black screen momentarily.