Recently I upgraded my fedora server from version 40 to 42 and upgrade:
sudo dnf upgrade --refresh
sudo dnf system-upgrade download --releaserver=42
sudo dnf system-upgrade reboot
But on the last reboot post upgrade, error and kernel panic:
initramfs-6.15.7-200.fc42.x86_64.img not found error!

Apparently, upgrading to Fedora 42, and for every kernel update afterwards, initramfs is not created and the system is unbootable on the new kernel.
Fix for this is to boot on the older kernel and run:
root@fedora:~# dracut -f --regenerate-all
Check if file has been created:
root@fedora:~# ls -tlr /boot/initramfs-*
-rw-------. 1 root root 84860404 Sep 20 2021 /boot/initramfs-0-rescue-51b2d3db1bb945a5836155e43f48ad16.img
-rw-------. 1 root root 73169434 Jul 30 12:04 /boot/initramfs-6.15.7-200.fc42.x86_64.img
-rw-------. 1 root root 68384847 Jul 30 12:04 /boot/initramfs-6.9.12-200.fc40.x86_64.img
root@fedora:~#
Reboot, you should be able to start on new kernel now.
root@fedora:~# uname -a
Linux fedora 6.15.7-200.fc42.x86_64 #1 SMP PREEMPT_DYNAMIC Thu Jul 17 17:57:16 UTC 2025 x86_64 GNU/Linux
root@fedora:~#
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