24" is going to have the best ballistics and gives the Grendel the range needed for hunting effectively between 200 and 300 yards. How much the 20" barrel reduces the effectiveness is going to depend on the particular bullet and load used and possibly the type of action. I will just say that when pushed to maximum performance in a 24" barrel bolt-action rifle, the Grendel is something I would hunt mule deer with and have confidence out to 275 or 300 yards. Within that range, I don't think the deer could tell the difference between Grendel and Creedmoor. I would expect a 20" barrel to reduce that by at least 50 yards. The issue is with velocity, bullet design, and expansion.
MPBR is another issue. If you use a laser rangefinder and dial, then it's no issue. If you use a 200 yard zero, the 24" barrel will give you at least 25 more yards of MPBR versus a 20" barrel.
My 24" is on a mini bolt-action receiver. I can totally see why the 20" would be more appealing for an AR receiver. If you hunt deer in the tight woods, there would be no practical disadvantage to the 20". Also, hunting hogs at close range, no difference. Stretch the shots out over the long range for mule deer and pronghorn, then a 20" AR-15 is not the best tool.