It’s an M.2 or NVME drive (basically same thing). It looks like it’s under that white rectangle in the bottom left of your image (it’s a little fuzzy so hard to say for sure). They have a heatsink on top of them held down with a screw. You just undo that screw and it can pop right out. The heatsink can peel off and be attached to the new M.2/Nvme.

With that said, my experience with bootloops is usually more of an issue with the BIOS. I would try updating that or reflashing it if it was recently updated.