`Kernel panic - not syncing: No working init found.`

### What Happened?

When attempting to boot off my 16GB USB drive on a (presumably) 2009 Gateway laptop originally running Windows Vista, I am presented with this screen:


### Steps to Reproduce

1. Downloaded elementary OS from https://elementary.io using magnet link and [Transmission](https://transmissionbt.com/)
2. Flashed 16GB USB drive with downloaded ISO using [balenaEtcher](https://balena.io/etcher)
3. Plugged USB drive into Gateway laptop (while shutdown)
4. Turned laptop on
5. Waited for Gateway splash screen and pressed F10 to go to boot menu
6. Selected `USB HDD: Lexar USB Flash Drive`
7. Pressed Enter

### Expected Behavior

Expected to see (pardon my naivety) a bunch of text scrolling faster than I can read any of it followed by a blank screen and then the elementary OS installer.

### OS Version

7.x (Horus)

### Software Version

Latest release (I have run all updates)

### Log Output

(Might not be 100% right, I detected text from the screenshot I attached above and touched it up a bit but I can't guarantee it's completely accurate.)

```shell
[ 3.221661] Initramfs unpacking failed: write error
[ 3.444573] Failed to execute /init (error -2)
[ 3.444927] Kernel panic - not syncing: No working init found. Try passing init= option to kernel. See Linux Docunentation/admin-guide/init.rst for guidance.
[ 3.444981] CPU: 0 PID: 1 Comm: swapper/0 Not tainted 6.2.0-33-generic #33~22.04.1-Ubuntu
[ 3.445026] Hardware name: Cateway MT6451 /, BIOS 84.05 11/01/2006
[ 3.445073] Call Trace:
[ 3.445114]
[ 3.445156] dump_stack_lvl+0x48/0x70
[ 3.445204] dump_stack+0x10/0x20
[ 3.445244] panic+0x35a/0x3a0
[ 3.445289] ? kernel_execve+0x164/0x1c0
[ 3.445332] kernel_init+0x1a0/0x200
[ 3.445376] ? __pfx_kernel_init+0x10/0x10
[ 3.445420] ret_fron_fork+0x2c/0x50
[ 3.445464]
[ 3.445516] Kernel Offset: 0x38000000 from Oxffffffff81000000 (relocation ran ge: Oxffffffff80000000-0xffffffffbfffffff)
[ 3.445565] ---[ end Kernel panic - not syncing: No working init found. Try passing init= option to kernel. See Linux Documentation/admin-guide/init.rst for guidance. ]---
```

### Hardware Info

The laptop I'm working with was given to me by a friend. I don't know everything about it but here's what I've learned from looking in the BIOS:

**BIOS:** PheonixBIOS v84.05

**IDE 0 Master:** ST9120824A-(PM)
**IDE 0 Slaver:** Optiarc DVD RW AD-7530A-(PS)

**CPU Type:** AMD Turion 64 X2 Mobile Technology TL-50
**CPU Speed:** 1600 MHz
**Cache Ram:** 512 KB

**Total Memory:** 1024 MB
**Slot1/Slot2 Memory:** 512 MB
**Video Memory:** 128 MB