[Moto G40 / G60] arsradu:
@Raghu varma, for reference, this is what happens if you try to flash an older version (in this case S2RI32.32-20-7), with a locked bootloader. I only selected the errors/warnings where applicable. Rest of the files are flashed successfully.

So, basically nothing was broken, but also, nothing was fixed either. Unfortunately. :( Next step would be unlocking the bootloader.

fastboot flash vbmeta vbmeta.img
Sending 'vbmeta_a' (8 KB)
OKAY [ 0.010s]
Writing 'vbmeta_a'
(bootloader) WARNING: vbmeta_a anti rollback downgrade, 10 vs 11
(bootloader) Preflash validation failed
FAILED (remote: '')
fastboot: error: Command failed

fastboot flash vbmeta_system vbmeta_system.img
Sending 'vbmeta_system_a' (4 KB)
OKAY [ 0.000s]
Writing 'vbmeta_system_a'
(bootloader) WARNING: vbmeta_system_a anti rollback downgrade, 10 vs 11
(bootloader) Preflash validation failed
FAILED (remote: '')
fastboot: error: Command failed

fastboot flash boot boot.img
Sending 'boot_a' (65536 KB)
OKAY [ 1.450s]
Writing 'boot_a'
(bootloader) Preflash validation failed
FAILED (remote: '')
fastboot: error: Command failed

fastboot flash vendor_boot vendor_boot.img
Sending 'vendor_boot_a' (65536 KB)
OKAY [ 1.461s]
Writing 'vendor_boot_a'
(bootloader) Preflash validation failed
FAILED (remote: '')
fastboot: error: Command failed

fastboot flash dtbo dtbo.img
Sending 'dtbo_a' (8192 KB)
OKAY [ 0.190s]
Writing 'dtbo_a'
(bootloader) Preflash validation failed
FAILED (remote: '')
fastboot: error: Command failed

fastboot flash super super.img_sparsechunk.0
Sending 'super' (459112 KB)
OKAY [ 10.282s]
Writing 'super'
(bootloader) *****************************************************
(bootloader) WARNING: Flashing vbmeta image is required prior to
(bootloader) flashing super image.
(bootloader) *****************************************************
(bootloader) flash permission denied
FAILED (remote: '')
fastboot: error: Command failed

fastboot flash super super.img_sparsechunk.1
Sending 'super' (524208 KB)
OKAY [ 11.710s]
Writing 'super'
(bootloader) *****************************************************
(bootloader) WARNING: Flashing vbmeta image is required prior to
(bootloader) flashing super image.
(bootloader) *****************************************************
(bootloader) flash permission denied
FAILED (remote: '')
fastboot: error: Command failed

fastboot flash super super.img_sparsechunk.2
Sending 'super' (524232 KB)
OKAY [ 11.722s]
Writing 'super'
(bootloader) *****************************************************
(bootloader) WARNING: Flashing vbmeta image is required prior to
(bootloader) flashing super image.
(bootloader) *****************************************************
(bootloader) flash permission denied
FAILED (remote: '')
fastboot: error: Command failed

fastboot flash super super.img_sparsechunk.3
Sending 'super' (524252 KB)
OKAY [ 11.761s]
Writing 'super'
(bootloader) *****************************************************
(bootloader) WARNING: Flashing vbmeta image is required prior to
(bootloader) flashing super image.
(bootloader) *****************************************************
(bootloader) flash permission denied
FAILED (remote: '')
fastboot: error: Command failed

fastboot flash super super.img_sparsechunk.4
Sending 'super' (524248 KB)
OKAY [ 11.639s]
Writing 'super'
(bootloader) *****************************************************
(bootloader) WARNING: Flashing vbmeta image is required prior to
(bootloader) flashing super image.
(bootloader) *****************************************************
(bootloader) flash permission denied
FAILED (remote: '')
fastboot: error: Command failed

fastboot flash super super.img_sparsechunk.5
Sending 'super' (495328 KB)
OKAY [ 11.011s]
Writing 'super'
(bootloader) *****************************************************
(bootloader) WARNING: Flashing vbmeta image is required prior to
(bootloader) flashing super image.
(bootloader) *****************************************************
(bootloader) flash permission denied
FAILED (remote: '')
fastboot: error: Command failed

fastboot flash super super.img_sparsechunk.6
Sending 'super' (524248 KB)
OKAY [ 11.721s]
Writing 'super'
(bootloader) *****************************************************
(bootloader) WARNING: Flashing vbmeta image is required prior to
(bootloader) flashing super image.
(bootloader) *****************************************************
(bootloader) flash permission denied
FAILED (remote: '')
fastboot: error: Command failed

fastboot flash super super.img_sparsechunk.7
Sending 'super' (484372 KB)
OKAY [ 10.731s]
Writing 'super'
(bootloader) *****************************************************
(bootloader) WARNING: Flashing vbmeta image is required prior to
(bootloader) flashing super image.
(bootloader) *****************************************************
(bootloader) flash permission denied
FAILED (remote: '')
fastboot: error: Command failed

fastboot flash super super.img_sparsechunk.8
Sending 'super' (513244 KB)
OKAY [ 11.437s]
Writing 'super'
(bootloader) *****************************************************
(bootloader) WARNING: Flashing vbmeta image is required prior to
(bootloader) flashing super image.
(bootloader) *****************************************************
(bootloader) flash permission denied
FAILED (remote: '')
fastboot: error: Command failed

fastboot flash super super.img_sparsechunk.9
Sending 'super' (524200 KB)
OKAY [ 11.658s]
Writing 'super'
(bootloader) *****************************************************
(bootloader) WARNING: Flashing vbmeta image is required prior to
(bootloader) flashing super image.
(bootloader) *****************************************************
(bootloader) flash permission denied
FAILED (remote: '')
fastboot: error: Command failed

fastboot flash super super.img_sparsechunk.10
Sending 'super' (173852 KB)
OKAY [ 3.882s]
Writing 'super'
(bootloader) *****************************************************
(bootloader) WARNING: Flashing vbmeta image is required prior to
(bootloader) flashing super image.
(bootloader) *****************************************************
(bootloader) flash permission denied
FAILED (remote: '')
fastboot: error: Command failed