It seems that linux-aarch64 provides an empty file with name /usr/lib/firmware/$(uname -r). This is in the linux's firmware searching paths and its priority is higher than /usr/lib/firmware. Which results that kernel tries to load firmware from the former path and failed to fallback. Vanilla arch linux does not have this file.
See also:
https://github.com/archlinuxarm/PKGBUILDs/blame/master/core/linux-aarch64/PKGBUILD#L102
https://www.kernel.org/doc/html/latest/driver-api/firmware/fw_search_path.html
https://gitlab.archlinux.org/archlinux/packaging/packages/linux/-/blob/6.7.5.arch1-1/PKGBUILD?ref_type=tags