Yesterday I bought this device and tried to install OpenWRT, however, got a bootloop.
Restoraition is quite simple (thanks Asus).

Tried with last snapshot:
openwrt-ramips-mt7621-asus_rt-ax53u-squashfs-factory.bin e6cab292c8bbefc448b55a2125665b6658c23ba7fbb55d8c9a7a4915172b76bc | 8960.0 KB | Mon Aug 8 20:23:58 2022
as well as with build from https://firmware-selector.openwrt.org/?version=SNAPSHOT&target=ramips%2Fmt7621&id=asus_rt-ax53u:
db0906f663ca6638f42cbb9fa996ac30754a38d2870bdb7d474b7746ff45d7eb openwrt-916189392e7b-ramips-mt7621-asus_rt-ax53u-squashfs-factory.bin .

Installed it over stock 3.0.0.4.386.67508 via TFTP powering device on while holding reset button (installation via TFTP using UBOOT menu was unsuccessful after many retries for some reason).
Also tried installation via SSH:
mtd-write -i /tmp/openwrt-ramips-mt7621-asus_rt-ax53u-squashfs-factory.bin -d linux
The result is the same:

[    3.394008] UBI error: no valid UBI magic found inside mtd5
[    3.400480] /dev/root: Can't open blockdev
[    3.404571] VFS: Cannot open root device "(null)" or unknown-block(0,0): error -6
[    3.412071] Please append a correct "root=" boot option; here are the available partitions:
[    3.420417] 1f00             896 mtdblock0 
[    3.420424]  (driver?)
[    3.426948] 1f01            1024 mtdblock1 
[    3.426953]  (driver?)
[    3.433457] 1f02            1024 mtdblock2 
[    3.433462]  (driver?)
[    3.439987] 1f03            1024 mtdblock3 
[    3.439992]  (driver?)
[    3.446494] 1f04            4096 mtdblock4 
[    3.446498]  (driver?)
[    3.453019] 1f05           47104 mtdblock5 
[    3.453024]  (driver?)
[    3.459543] 1f06           51200 mtdblock6 
[    3.459548]  (driver?)
[    3.466050] Kernel panic - not syncing: VFS: Unable to mount root fs on unknown-block(0,0)
[    3.474303] Rebooting in 1 seconds..

Did I something wrong or the last snapshot is broken?

More details: