Fedora 39 boot hanging - dracut.initqueue

I am not sure if your issue is already reported in the “Bug URL” below. But I can see some urgent /high issue tickets. You can comment, communicate, and watch the issue tickets there.

$ rpm -qi dracut | grep URL
URL         : https://dracut.wiki.kernel.org/
Bug URL     : https://bugz.fedoraproject.org/dracut

Edited: the following page is the top page of the dracut RPM package. It may be helpful for you.
https://src.fedoraproject.org/rpms/dracut