Weirdly, fixing this pcie error has fixed this issue for me. Now I am able to suspend the system without any issue.
Thank you, @anon92589110, @pebcak, and @anon36778426 for your valuable time.
@anon36778426, I while adding the param to suppress the pcie errors, I also added quiet splash
to it and now I get the same boot experience as Solus. Thank you!