Answers to a very old question suggest to edit
/etc/default/grub
That file has the following contents:
GRUB_DEFAULT=0
GRUB_TIMEOUT_STYLE=hidden
GRUB_TIMEOUT=0
GRUB_DISTRIBUTOR=`lsb_release -i -s 2> /dev/null || echo Debian`
GRUB_CMDLINE_LINUX_DEFAULT="quiet splash"
GRUB_CMDLINE_LINUX=""
The timeout I'm witnessing when booting the system is 10 seconds. According to the configuration file it's 0 seconds though. So, where is the timeout actually defined in Ubuntu 20.04?