Chosen Solution
Inside of mid 2020 27" iMac. Hard drive? Next step is to open covers. This is much more complicated than the older imacs. No visible hard drive that I could see. It looks to me like the HD is under the logic board. I’m not taking that out unless you know. I don’t need to change the drive since it’s not broken. I do a lot of investing and at the moment I have two mini macs with max memory and ssd’s on my desk and they are doing fine. Using the HP24mh monitors with speakers. 4stars.
@ldonj - Depending on which configuration bought it could have a blade SSD which is mounted on the back side of the logic board. If bought withe a HDD it would be just above the power supply. Apple uses a custom PCIe/NVMe blade SSD.