If anyone is having any issues deploying patches with ZPM, it is recommended to deploy the Feb 2021 Servicing Stack Update by a non-ZPM Means. This could be through standard ZCM Bundle.
There are some issues with specific prior Servicing Stacks that can interfere with even updating the Servicing Stack through traditional Windows Update processes.
ZENworks Engineering is also examining the matter to see if ZPM could potentially self resolve the current issue and similar future issues, but it cannot at this moment.
Note: CBS.LOG files may show something similar to the following, even when attempting to update the Servicing Stack.
2021-01-24 11:16:31, Info CBS Failed to initialize internal package [HRESULT = 0x800f0823 - CBS_E_NEW_SERVICING_STACK_REQUIRED]
2021-01-24 11:16:31, Info CBS Failed to create windows update package [HRESULT = 0x800f0823 -CBS_E_NEW_SERVICING_STACK_REQUIRED]