Thanks for the explanation, that's helpful context. I captured
journalctl -b -1 -k from a recent shutdown and found two things that
might be relevant:

At boot, the AMD GPU (no display attached, used only for compute/gaming) logs: 
amdgpu 0000:03:00.0: [drm] Cannot find any crtc or sizes — expected given it 
has no display, but this may be the kind of pre-existing console message you 
mentioned.
During the actual shutdown sequence, right in the middle of filesystem 
unmounting, I see:

fbcon: Taking over console
Console: switching to colour frame buffer device 240x67
This happens right as the DRM driver appears to be torn down, which seems to 
match your point about the driver becoming unusable to new processes like 
plymouthd right as it's needed.
My setup is Intel iGPU (display) + AMD dGPU (no display, used for 
gaming/compute) — happy to provide any further logs (dmesg, full journalctl -b 
-1, lspci -k for GPU driver binding) if that would help narrow down whether 
this is the console-message issue or the driver-unload race you described.

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https://bugs.launchpad.net/bugs/2160567

Title:
  Plymouth splash does not appear on shutdown/reboot (works correctly on
  boot) — TPM-backed FDE, dual GPU (Intel + AMD)

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