Edit: I can boot into OOS just fine and everything but TWRP works.
I had the same problem a few hours ago...
I flashed the latest TWRP and then booted it via fastboot (fastboot boot twrp-3.0.3-1-oneplus3t.img.).
I waited 1-2 minutes, rebooted it into TWRP again (this time not via fastboot but with the buttons of the phone). After a few minutes I finally saw the usual TWRP UI.
I don't know why or how, but it worked.
I have similar problem but for me just get black screen with only notification led on... I have tried everything (reflash, dm verity zip, swap zip, f2fs version etc.) but nothing work. Im using RR rom, EXT4, decrypted. Only way to boot recovery is "fastboot boot twrp.img"
fastboot format cache fastboot format userdata
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