Hi @Michael85 and welcome to the community and forum.
It certainly sounds like a software problem : the fact that charging starts after a reboot is I think significant.
However it’s important to eliminate all other possibilities (Support will want this) so, as usual, you’ll need to test with another cable if you can borrow one, and connecting to a different device (for the data). Also make sure the port is clean and the cable terminals are undamaged.
Apart from the OS update, what else changed recently? In particular did you dismantle the phone recently? If so, make sure the bottom module is properly and securely fitted.
Have you noticed any other problems or unexpected changes since the update?
Did you try starting in Safe mode as suggested by Amoun?
[Edit] As regards USB data connectivity, after connecting the FP to the PC, on the FP go to Settings > Connected devices > USB to make sure the cable connection is recognised and see what usage preference is set. It may be set to “No data transfer”.
Would you please post back with detailed info:
OS (standard FP OS, Open, Lineage, …)
Android version (should be 10)
OS Build number (if using standard FP Android go to settings > About phone > Build number (or Android version). The current build number on my phone is 8901.3.A.0101.20210420