Verify that the bios/firmware of the motherboard is the latest stable (if that can be updated).
You can also try to boot the device with basically everything except the screen disconnected, and if that works boot with the screen + keyboard and so on. When using keyboard try different usb-slots in case one of the connectors might be broke (and/or different keyboard).
Another test since 1.5-rolling is based on Debian12 (bookworm) but with latest stable Linux kernel (custom compile) is to create a bootdrive with installation of Debian12 (bookworm) for that board and boot from that and see if that too panics.
This way we can find out if its a hardware malfunction or if its more likely some module or setting of the custom Linux kernel which VyOS is using.