I’ve encountered what appears to be another instance of this on a Debian 10.2 system (systemd-241-7~deb10u2). The system has an LVM PV atop a LUKS container atop an mdadm RAID, and sometimes on boot, the system will time out trying to open the disk. Investigation in recovery mode suggests that the RAID is being assembled but cryptsetup isn’t figuring that out and just sits there, waiting for the disk to appear.
Interestingly, the failure appears much more frequently on the systemd from buster-backports (systemd-244-3~bpo10+1) than it does on the version in buster.