This is a clone of issue OCPBUGS-56723. The following is the description of the original issue:
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There is an issue in the status logic https://github.com/openshift/cluster-baremetal-operator/blob/2a6cf5336fd7aafa8df59331cfb12c968d104c64/controllers/clusteroperator.go#L242-L260: status ReasonResourceNotFound is not a fatal error, it's a temporary condition while the Metal3 pod does not exist yet. Setting the operator's status as Degraded is wrong since nothing bad is happening. We should set Degraded=False, Progressing=True, Available=False instead.

Spotted in https://prow.ci.openshift.org/view/gs/test-platform-results/pr-logs/pull/openshift_baremetal-operator/418/pull-ci-openshift-baremetal-operator-main-e2e-metal-ipi-serial-ipv4/1927125756081606656, it may be tricky to reproduce manually. Maybe by watching the cluster operators' status and associated error while the installer is still running?