I had the same issue installing Security Update 2020-002 on Mojave 10.14.6, with one of my two displays not working.
I have previously had the motherboard fail on this mac mini, so assumed it might be an overheating issue - luckily pulling the power out for 30 seconds to reset the SMC resolved it. You would think Apple might mention the issue !
The first Thunderbolt port closes to the HDMI port has a special role for communicating with the T2 chip / BridgeOS.
I presume the security update probably includes some firmware update for T2.
When my motherboard previously failed and would not boot, the Apple store still could recovery my data from the SSD using a program only available to them unfortunately, which connects two macs together using that Thunderbolt port. You can also put the machine in DFU mode using the Apple Configurator tool and that port, so it has a special function.
This support article is also useful, which shows how the four ports are organised in two buses
https://support.apple.com/en-us/HT209224 Connect multiple displays to your Mac mini (2018)
As an aside, macOS never recognised the full resolution of my Acer monitor (always defaulting the 4K monitor to 1920x1080), so I had set the scaled resolution set using the ALT key. After waking the mac mini, the CPU usage would always jump as it re-arrange the sizes for all the windows.
I've noticed that if I use the Scaled "More Space" to define the resolution of the monitor, it's better since it does not resize all the windows each time I unlock the machine.