PC turns on and then quickly turns off

PC turns on and some of the RGB and LEDs on motherboard blink and then it quickly turns off. It doesn't turn on then unless I remove the power cable and let it stay plugged out for 5-10 min and then plug it in again.

This started to happen out of nowhere. It was working fine in the morning and when I tried booting it up at night, this is what I get. What could be the problem here?

Specs: 15 12600k Rtx 3070 Msi b660m-a Xpg pylon 750W