Hi!
Updated to Kernel: 5.5.6-1 and upon reboot, wireless is kaput..
Seems to be an issue with iwlwifi..

~ dmesg -k error log

[ 4.340200] iwlwifi 0000:07:00.0: Detected Intel(R) Dual Band Wireless AC 3168, REV=0x220
[ 4.358238] iwlwifi 0000:07:00.0: Can't parse phy_sku in B0, empty sections
[ 4.358359] iwlwifi 0000:07:00.0: Failed to read NVM: -61
[ 4.358452] iwlwifi 0000:07:00.0: Collecting data: trigger 16 fired.
[ 4.359651] iwlwifi 0000:07:00.0: Start IWL Error Log Dump:
[ 4.359743] iwlwifi 0000:07:00.0: Status: 0x00000040, count: 6
[ 4.359839] iwlwifi 0000:07:00.0: Loaded firmware version: 29.1654887522.0
[ 4.359952] iwlwifi 0000:07:00.0: 0x00000084 | NMI_INTERRUPT_UNKNOWN
[ 4.360083] iwlwifi 0000:07:00.0: 0x000002F0 | trm_hw_status0
[ 4.360186] iwlwifi 0000:07:00.0: 0x00000000 | trm_hw_status1
[ 4.360288] iwlwifi 0000:07:00.0: 0x0004171E | branchlink2
[ 4.360382] iwlwifi 0000:07:00.0: 0x000446B2 | interruptlink1
[ 4.360475] iwlwifi 0000:07:00.0: 0x000446B2 | interruptlink2
[ 4.360569] iwlwifi 0000:07:00.0: 0x00000000 | data1
[ 4.360651] iwlwifi 0000:07:00.0: 0x00000080 | data2
[ 4.360734] iwlwifi 0000:07:00.0: 0x07030000 | data3
[ 4.360817] iwlwifi 0000:07:00.0: 0x00000000 | beacon time
[ 4.360908] iwlwifi 0000:07:00.0: 0x00001306 | tsf low
[ 4.361000] iwlwifi 0000:07:00.0: 0x00000000 | tsf hi
[ 4.361095] iwlwifi 0000:07:00.0: 0x00000000 | time gp1
[ 4.361190] iwlwifi 0000:07:00.0: 0x00001306 | time gp2
[ 4.361277] iwlwifi 0000:07:00.0: 0x00000009 | uCode revision type
[ 4.361376] iwlwifi 0000:07:00.0: 0x0000001D | uCode version major
[ 4.361475] iwlwifi 0000:07:00.0: 0x62A39462 | uCode version minor
[ 4.361574] iwlwifi 0000:07:00.0: 0x00000220 | hw version
[ 4.361662] iwlwifi 0000:07:00.0: 0x00C89200 | board version
[ 4.361755] iwlwifi 0000:07:00.0: 0x00110188 | hcmd
[ 4.361837] iwlwifi 0000:07:00.0: 0x00022000 | isr0
[ 4.361919] iwlwifi 0000:07:00.0: 0x00000000 | isr1
[ 4.362000] iwlwifi 0000:07:00.0: 0x00000002 | isr2
[ 4.362087] iwlwifi 0000:07:00.0: 0x004000C0 | isr3
[ 4.362169] iwlwifi 0000:07:00.0: 0x00000000 | isr4
[ 4.362251] iwlwifi 0000:07:00.0: 0x00110188 | last cmd Id
[ 4.362347] iwlwifi 0000:07:00.0: 0x00000000 | wait_event
[ 4.362440] iwlwifi 0000:07:00.0: 0x000000D4 | l2p_control
[ 4.362537] iwlwifi 0000:07:00.0: 0x00000000 | l2p_duration
[ 4.362634] iwlwifi 0000:07:00.0: 0x00000000 | l2p_mhvalid
[ 4.362732] iwlwifi 0000:07:00.0: 0x00000000 | l2p_addr_match
[ 4.362836] iwlwifi 0000:07:00.0: 0x00000007 | lmpm_pmg_sel
[ 4.362937] iwlwifi 0000:07:00.0: 0x16070617 | timestamp
[ 4.363033] iwlwifi 0000:07:00.0: 0x00341018 | flow_handler
[ 4.363138] iwlwifi 0000:07:00.0: Fseq Registers:
[ 4.363226] iwlwifi 0000:07:00.0: 0x00000000 | FSEQ_ERROR_CODE
[ 4.363328] iwlwifi 0000:07:00.0: 0x00000000 | FSEQ_TOP_INIT_VERSION
[ 4.363440] iwlwifi 0000:07:00.0: 0x00000000 | FSEQ_CNVIO_INIT_VERSION
[ 4.363555] iwlwifi 0000:07:00.0: 0x00000000 | FSEQ_OTP_VERSION
[ 4.363666] iwlwifi 0000:07:00.0: 0x00000000 | FSEQ_TOP_CONTENT_VERSION
[ 4.363788] iwlwifi 0000:07:00.0: 0x00000000 | FSEQ_ALIVE_TOKEN
[ 4.365569] iwlwifi 0000:07:00.0: 0x00000000 | FSEQ_CNVI_ID
[ 4.367260] iwlwifi 0000:07:00.0: 0x00000000 | FSEQ_CNVR_ID
[ 4.368845] iwlwifi 0000:07:00.0: 0x00000000 | CNVI_AUX_MISC_CHIP
[ 4.370384] iwlwifi 0000:07:00.0: 0x00000000 | CNVR_AUX_MISC_CHIP
[ 4.371897] iwlwifi 0000:07:00.0: 0x00000000 | CNVR_SCU_SD_REGS_SD_REG_DIG_DCDC_VTRIM
[ 4.373438] iwlwifi 0000:07:00.0: 0x00000000 | CNVR_SCU_SD_REGS_SD_REG_ACTIVE_VDIG_MIRROR
[ 4.374975] iwlwifi 0000:07:00.0: Firmware not running - cannot dump error
[ 4.388652] iwlwifi 0000:07:00.0: Failed to run INIT ucode: -61

~ Sysinfo

System: Host: <HOSTNAME> Kernel: 5.5.6-1 x86_64 bits: 64 compiler: gcc v: 9.2.0
Desktop: KDE Plasma 5.18.2 Distro: KaOS 2020
Machine: Type: Desktop Mobo: ASRock model: X370 Taichi serial: <filter>
UEFI [Legacy]: American Megatrends v: P6.20 date: 01/03/2020
CPU: Topology: 8-Core model: AMD Ryzen 7 1700X bits: 64 type: MT MCP arch: Zen rev: 1
L2 cache: 4096 KiB
flags: avx avx2 lm nx pae sse sse2 sse3 sse4_1 sse4_2 sse4a ssse3 svm bogomips: 108794
Speed: 2203 MHz min/max: 2200/3400 MHz Core speeds (MHz): 1: 2186 2: 2199 3: 2199
4: 2199 5: 2199 6: 2199 7: 2198 8: 2200 9: 2200 10: 2206 11: 2199 12: 2199 13: 2200
14: 2202 15: 2199 16: 2199
Graphics: Device-1: AMD Ellesmere [Radeon RX 470/480/570/570X/580/580X/590]
vendor: Sapphire Limited Nitro+ driver: amdgpu v: kernel bus ID: 0c:00.0
Display: x11 server: X.Org 1.20.7 driver: amdgpu unloaded: modesetting,vesa
resolution: 2560x1440~60Hz
OpenGL: renderer: Radeon RX 580 Series (POLARIS10 DRM 3.36.0 5.5.6-1 LLVM 9.0.1)
v: 4.5 Mesa 19.3.4 direct render: Yes
Audio: Device-1: AMD Ellesmere HDMI Audio [Radeon RX 470/480 / 570/580/590]
vendor: Sapphire Limited driver: snd_hda_intel v: kernel bus ID: 0c:00.1
Device-2: AMD Family 17h HD Audio vendor: ASRock driver: snd_hda_intel v: kernel
bus ID: 0e:00.3
Sound Server: ALSA v: k5.5.6-1
Network: Device-1: Intel Dual Band Wireless-AC 3168NGW [Stone Peak] driver: iwlwifi v: kernel
port: e000 bus ID: 07:00.0
Device-2: Intel I211 Gigabit Network vendor: ASRock driver: igb v: 5.6.0-k port: d000
bus ID: 09:00.0
IF: enp9s0 state: down mac: <filter>
IF-ID-1: enp1s0f0u4 state: unknown speed: N/A duplex: N/A mac: <filter>
Drives: Local Storage: total: 465.76 GiB used: 392.88 GiB (84.4%)
ID-1: /dev/sda vendor: Samsung model: SSD 850 EVO 500GB size: 465.76 GiB
Partition: ID-1: / size: 448.31 GiB used: 392.88 GiB (87.6%) fs: xfs dev: /dev/sda1
ID-2: swap-1 size: 17.23 GiB used: 0 KiB (0.0%) fs: swap dev: /dev/sda2
Sensors: System Temperatures: cpu: 36.0 C mobo: 32.0 C gpu: amdgpu temp: 40 C
Fan Speeds (RPM): fan-1: 0 fan-2: 1618 fan-3: 0 fan-4: 0 fan-5: 0 gpu: amdgpu fan: 758
Voltages: 12v: N/A 5v: N/A 3.3v: 3.31 vbat: 3.31
Info: Processes: 308 Uptime: 46m Memory: 15.57 GiB used: 2.30 GiB (14.8%) Init: systemd
runlevel: 5 Compilers: gcc: 9.2.0 clang: 9.0.1 Client: Unknown Client: octopi
inxi: 3.0.37

PS : @demm Thanks for KaOS!
Your efforts are wholeheartedly appreciated..!

Unfortunately, it comes out now that it is reported here, it is well known and reported in many places, examples:
https://bugzilla.kernel.org/show_bug.cgi?id=206329
https://bugzilla.redhat.com/show_bug.cgi?id=1800335
https://bugzilla.kernel.org/show_bug.cgi?id=206333
https://bbs.archlinux.org/viewtopic.php?id=252603
So please install the linux-next kernel, that one will get patches right away when fixes are available/new versions are released, and report when it is fixed (linux-next 5.5.7 will be added today, I will check if some of the mentioned patches are now included).

EDIT:
Linux-next 5.5.7 is up, added one patch that is mentioned in many of the reports above (still not in the mainline kernel, let alone 5.5 branch):
https://github.com/KaOSx/core/commit/0895d50534f501056dfdac6b733eddc9243e4f65

    demm Thanks for the quick response..

    I followed your link pertaining to installation of linux-next
    But ver 5.5.7 is just not in the repo list..even after being fully synced.

    sudo pacman -S linux-next
    resolving dependencies...
    looking for conflicting packages...
    Package (1) New Version Net Change Download Size
    core/linux-next 5.5.6-1 143.01 MiB 97.64 MiB
    Total Download Size: 97.64 MiB
    Total Installed Size: 143.01 MiB
    :: Proceed with installation? [Y/n]

    ~ Pacman query

    sudo pacman -Ss linux-next
    core/linux-next 5.5.6-1
    The Linux Kernel and modules
    core/linux-next-docs 5.5.6-1
    Kernel hackers manual - HTML documentation that comes with the Linux kernel.
    core/linux-next-headers 5.5.6-1
    Header files and scripts for building modules for linux kernel
    main/bbswitch-next 0.8-34
    Kernel module allowing to switch dedicated graphics card on Optimus laptops (linux-next version)
    main/nvidia-390xx-next 390.132-27
    NVIDIA drivers for linux-next, 390xx legacy version.

    So, what's the way forward ? Install linux-next manually?

      All start in the [build] repo, and if you want to really search, online package viewer is your friend.
      https://kaosx.us/packages/
      https://kaosx.us/packages/packages.php?sortby=&sortdir=&flagged=&page=&repo=&exact=&search=linux-next
      If you want to help with testing this kernel right away, add the [build] repo to your /etc/pacman.conf (add above all). There is not much in build right now so should be safe, or wait 1-3 days, then 5.5.7 will move to core.

        demm Yeah, of course..I am aware of http://kaosx.tk/packages/ and ver 5.5.7 being listed there..

        I was kinda hoping that steps detailed in the doc section Additional Kernels would be enough to install ver 5.5.7

        If you want to help with testing this kernel right away, add the [build] repo to your /etc/pacman.conf (add above all). There is not much in build right now so should be safe, or wait 1-3 days, then 5.5.7 will move to core.

        Thanks for all..!
        But I'd prefer to wait it out))

          @demm On second thoughts, I opine that I must reciprocate your sincere and timely response..

          I've added the [build] repo as you said..
          And gonna install 5.5.7 right away.

          Will let you know how it goes, okayyy

          ** One more thing..

          sudo pacman -Su
          :: Starting full system upgrade...
          resolving dependencies...
          looking for conflicting packages...
          Package (9) Old Version New Version Net Change Download Size
          build/gsettings-desktop-schemas 3.32.0-1 3.34.0-1 0.10 MiB 0.61 MiB
          build/libgphoto2 2.5.23-1 2.5.24-1 0.06 MiB 1.26 MiB
          build/libqmi 1.24.4-1 1.24.6-1 0.05 MiB 1.25 MiB
          build/libsoup 2.68.3-1 2.68.4-1 0.00 MiB 0.43 MiB
          build/logrotate 3.15.1-1 3.16.0-1 0.00 MiB 0.04 MiB
          build/man-db 2.9.0-1 2.9.1-1 -0.01 MiB 0.46 MiB
          build/networkmanager 1.22.8-1 1.22.8-2 0.00 MiB 3.82 MiB
          build/ppp 2.4.7-5 2.4.8-1 -0.01 MiB 0.30 MiB
          build/qca-qt5 2.2.1-1 2.3.0-1 0.19 MiB 0.76 MiB
          Total Download Size: 8.92 MiB
          Total Installed Size: 64.94 MiB
          Net Upgrade Size: 0.39 MiB

          Would you suggest to update above-mentioned packages as well?

          Always use sudo pacman -Syu, better yet, use the upd bashrc command, so you make sure your mirror is synced, and yes, update all, partial updates are not supported and will break your install sooner or later.
          Once you have updated though and have 5.5.7, you can remove the [build] repo from your pacman.conf again. You'll just see a warning for a few days on updating that a local package is newer then the database version, harmless, and will go away once all in [build] have moved.

            @demm Hello again! It worked)))

            Wireless is up and working!

            demm

            Always use sudo pacman -Syu

            Yeah, sure..

            better yet, use the upd bashrc command

            Thanks again, that's a pretty slick command))

            yes, update all, partial updates are not supported and will break your install sooner or later.

            Yeah, absolutely.
            But I think it can be safely assumed that aforementioned 9 updates are there due to the addition of [build] repo only..per se.

            have 5.5.7, you can remove the [build] repo from your pacman.conf again

            Okay, will do..

            You'll just see a warning for a few days on updating that a local package is newer then the database version, harmless, and will go away once all in [build] have moved.

            Thanks a lot))