UPDATE: The issue was resolved and here is the [SOLUTION]first of all lets start with the problem, it doesn't matter if it's just hard reset loop or update loop problem, I actually did both, here's a thing this main issue comes with updates but somehow this time recovery mode was completely destroyed, so there is no escape you can only access fastboot which is a good thing in a way, follow the steps to unbrick your phone.
-if you can access recovery mode just download modified miflashpro and flash downloaded rom using it.
REQUIRMENTS: PC,USB CABLE,INTERNET CONNECTION.
SOLUTION:1. Install ADB on your PC with all the necessary drivers for your phone
2. Turn off your phone completely, press and hold volume down and power button together to go into fastboot mode
3. once you are in fastboot mode connect usb to phone and open cmd from adb directory and type in: fastboot devices (if device serial number is shown in fastboot mode everything is good so far... if not go to DEVICE MANAGER in your pc and check if driver is installed properly if anything ADB drivers and ANDROID USB drivers will come handy to install them manually)
4. now type in: fastboot continue
5. your device will boot into system if it fails try going into fastboot mode and going with fastboot continue command again try until it boot ups into safe mode
6. eventually it will boot into safe mode system without your files being touched because nor update nor hard reset was completed fully, phone will be in airplane mode.
7. DO NOT TURN ON WIFI OR MOBILE DATA it will crash your phone, if your phone storage is full remove some stuff plus the apps.
8. Turn on USB DEBUGGING,OEM UNLOCK MODE. open file transfers and download apk of MIUI updater from pc to your phone ( LATEST VERSION ) and install it.
9. now DEACTIVATE AIRPLANE MODE and turn on WIFI FROM SETTINGS
10. once you got internet connection wait a little bit for all of the notifications and stuff to pop up be careful, once it's all good go to settings about phone and system update and CHECK FOR UPDATES
11. let your phone download the update it should be around 1.7GB depends honestly let it decrypt and once you are ready click on INSTALL NOW.
12. it will take time to install and reboot will happen many time you might think that it gets stuck at 90.49% but let it finish be patient it happens it just needs time, once everything is done you are good to go
WELCOME TO MIUI 12
I - MAKE SURE YOUR PHONE IS CHARGED
II - I DID TRY EDL TEST POINTS BUT YOU DO NOT NEED TO OPEN UP YOUR PHONE NOR TO DO IT.
III - BE PATIENT