I followed your steps but just encountered the same errors I previously had. I have both the kernel 5.4 and 5.8 installed, but nvidia-340 can't be installed with the 5.8, and I am unable to login with the 5.8. I read elsewhere that nvidia is no longer providing support for its legacy drivers. A developer has provided patches for some of the Ubuntu's but not yet apparently for 20.10. I also commented on https://bugs.launchpad.net/ubuntu/+source/nvidia-graphics-drivers-340/+bug/1872950?comments=all and other people have the same issues. I can only login each time by going to the recovery mode for the kernel 5.4.
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