iTunes Music Library Disappeared - only showing older version?
Today I opened my iTunes Library and it was empty. My entire library is offline (I do not download music from Apple Music or sync on the cloud). Naturally, I tried to open iTunes Library.itl in Music/iTunes but it says last modified 8 August 2020, and when I open it, it is indeed an older version of my library. I also tried opening Music Library file in Music/Music - again, it's the August version of my library.
The timeline of my library is: I copied over my entire iTunes folder in August from my old Macbook Pro. Since then, I have added more music, adjusted playlists etc. Notably, I have added a lot of music on 24 October and my most recent changes were on 13 November. Everything was working fine then. I can still see those new song files within the Music/iTunes/iTunes Media/Music folder. And of course, the correct library is on my phone from when I synced my iPhone with the library on 13 November.
I have a Time Machine backup from 9 November. Bizarrely, the iTunes Library.itl and Music Library.Music Library file are both showing as last modified 8 August? Am I going insane?
The only abnormal thing I can note with this new Macbook is that about 1 week ago I was browsing the internet and the screen went black, the fans blasted for 1-2 seconds and then it restarted. Could this incident possible have corrupted my files and restored versions from August? It doesn't really make much sense as there has been no other incidents/backups/restores. Is the actual library file stored somewhere else??
Any help appreciated. I do not want to re-work 4 months of library changes.
MacBook Pro 13″, macOS 10.15