A unified kernel image (UKI) is a single executable bootable from UEFI firmware
wiki.archlinux.org
wiki.archlinux.org
There is some flexibility around the kernel command line, so in practice you may still be able to use some whitelisted kernel parameters. (If your distro puts in the effort.)
Lack of downgrades could be a problem. You might upgrade the kernel and find that it is broken, and that you've also lost the ability to boot your previous kernel.
Both risks seem acceptable in a corporate environment, but perhaps not for the home user.
https://github.com/systemd/systemd/issues/18733 you sure it's not supported?