If anyone is having this issue, I was able to solve it by adding the option on a file on /etc/modprobe.d, and rebuilding the initrd. Basically:
$ cat /etc/modprobe.d/nvidia-prof.conf options nvidia "NVreg_RestrictProfilingToAdminUsers=0" $ sudo update-initramfs -c -k 5.4.0-70-generic $ sudo update-grub $ sudo /sbin/reboot
Still seems like overkill to me, but at least it’s working now!