I think this process may have bricked the chipset. It is correct the process you did in a way and I say this because jumping from the BIOS version 20 to 48 there are about 10 versions in the middle meaning a lot of changes and fixes.
It is recommendable to go one by one installing the updates to avoid bricking the board and this could cause the problem you have now.
My recommendation is to try doing a BIOS recovery. Here are the steps:
If you have a 3rd gen processor, try to use it and see if it will post. If not and if issue persists, I think you should contact our support center:
I have been trying to do a recovery both with F7 and removing the jumper with BIO on CD or USB. Neither is working.
When using the F7 , and selecting a BIO file that is higher than 0099 , the process starts but fails at the final step.
When using F7 and selecting the same or previous BIO file, a cursor appears next to the confirmation box and the whole process freezes.
When using recovery method with CD boot, there is no VGA output at all and the CD ROM drive is shown to be accessing the drive every 5 seconds in an infinate loop, I stopped after an hour. A similar thing happens with USB.
I have been in contact with support but they say the SKU is EOL and no support is offered.