USB devices reset on guest boot, causing boot failures if USB device is the boot device

When trying to boot a guest from a bootable USB device, the device is reset in the middle of the boot process. For example:

sudo qemu-system-x86_64 -m 2048 -vga qxl -usb -device usb-host,vendorid=0x054c -boot menu=on -accel kvm

Expected result: the bootable media is detected and the entire boot process works, booting correctly the system.

Observed result: bootloader (on this case, GRUB2) is detected correctly, boot process starts, messages that the USB device was reset appear and the boot fails.

I observed this problem with multiple USB devices from different brands (SanDisk, Sony, Kingston, Toshiba, Maxprint), so it's unlikely it's a problem with the device. This was observed with external HDD and pen-drives.

ProblemType: Bug
DistroRelease: Ubuntu 20.04
Package: qemu-system-x86 1:4.2-3ubuntu6.8
ProcVersionSignature: Ubuntu 5.4.0-52.57-generic 5.4.65
Uname: Linux 5.4.0-52-generic x86_64
ApportVersion: 2.20.11-0ubuntu27.11
Architecture: amd64
CasperMD5CheckResult: skip
CurrentDesktop: XFCE
Date: Wed Nov 11 09:47:17 2020
InstallationDate: Installed on 2017-06-13 (1246 days ago)
InstallationMedia: Xubuntu 17.04 "Zesty Zapus" - Release amd64 (20170412)
KvmCmdLine:
 COMMAND STAT EUID RUID PID PPID %CPU COMMAND
 qemu-system-x86 Sl+ 0 0 19986 19985 50.7 qemu-system-x86_64 -m 2048 -vga qxl -usb -device usb-host,vendorid=0x054c -boot menu=on -accel kvm
 kvm-nx-lpage-re S 0 0 19988 2 0.0 [kvm-nx-lpage-re]
 kvm-pit/19986 S 0 0 19992 2 0.0 [kvm-pit/19986]
MachineType: LENOVO 80UG
ProcKernelCmdLine: BOOT_IMAGE=/boot/vmlinuz-5.4.0-52-generic root=UUID=6b4ae5c0-c78c-49a6-a1ba-029192618a7a ro ro kvm.ignore_msrs=1 kvm.report_ignored_msrs=0 kvm.halt_poll_ns=0 kvm.halt_poll_ns_grow=0 i915.enable_gvt=1 resume=UUID=a82e38a0-8d20-49dd-9cbd-de7216b589fc log_buf_len=1M usbhid.quirks=0x0079:0x0006:0x100000 nbd.nbds_max=2 nbd.max_part=127
SourcePackage: qemu
UpgradeStatus: Upgraded to focal on 2019-12-22 (324 days ago)
dmi.bios.date: 08/09/2018
dmi.bios.vendor: LENOVO
dmi.bios.version: 0XCN45WW
dmi.board.asset.tag: NO Asset Tag
dmi.board.name: Toronto 4A2
dmi.board.vendor: LENOVO
dmi.board.version: SDK0J40679 WIN
dmi.chassis.asset.tag: NO Asset Tag
dmi.chassis.type: 10
dmi.chassis.vendor: LENOVO
dmi.chassis.version: Lenovo ideapad 310-14ISK
dmi.modalias: dmi:bvnLENOVO:bvr0XCN45WW:bd08/09/2018:svnLENOVO:pn80UG:pvrLenovoideapad310-14ISK:rvnLENOVO:rnToronto4A2:rvrSDK0J40679WIN:cvnLENOVO:ct10:cvrLenovoideapad310-14ISK:
dmi.product.family: IDEAPAD
dmi.product.name: 80UG
dmi.product.sku: LENOVO_MT_80UG_BU_idea_FM_Lenovo ideapad 310-14ISK
dmi.product.version: Lenovo ideapad 310-14ISK
dmi.sys.vendor: LENOVO