Game Version: 1.20.1
Forge Version: 1.20.1-47.2.0

Potential Cause (Just Enough Crashes said) could be Embeddium

Crash Report: https://pastebin.com/2QCa9GjG

I recently removed EMI and started experiencing another bug with it. When scrolling JEI, randomly, all the items listed will now suddenly change to display a red ERROR text instead of the item. This happens with BDB installed and doesn't seem to be a problem once it's removed.

I have the same problem.
I tried to remove other mods, but the error is solved by removing this mod.
The registry tells me a problem between these mods EMI, JEI, Moonlight, Embeddium and BDB.

Doesn't seem to be my mod? Does it still crash after removing BDB?

It stopped crashing after removing BDB. It could be something else. I'll do some more testing.

Looks like I forgot to respond but yes, after removing your mod it seemed to be fine when scrolling EMI/JEI list. Most likely a conflict between another mod. I can perform some more testing in the coming days and I'll let you know!