All your updates are available here--

http://www.dell.com/support/home/us/en/04/product-support/product/optiplex-3040m-desktop/drivers

Expand the list to see all that are available.

This 2.0 update does not list your model as compatible--

https://www.dell.com/support/home/us/en/4/Drivers/DriversDetails?driverId=2105J

This 2.0 version says it supports the Optiplex 3040.

Thanks for the answer, but I already tried with that and several more, but still throwing the same error.

Then all we can is await other Optiplex 3040 owners who have tried to move to TPM 2.0 to reply to see what they did.

I only found 1 single person with the same error searching in google. and from what I can see he could never solve it.

The problem is certainly not unique to any specific model, as multiple people reported the same for XPS laptops.

I'm getting the same with 7040SFF, going around in loops - with the TPM on/enabled/cleared/not_owned.

Thinking of trying to bypass that by enabling the legacy boot and starting it from a usb stick with linux on it

I'm getting the same problem on my 7285, attempted everything. Even booting with a usb still comes up with failed blocked by fw policy

Hi @Sutt3592,

Please repost in the Latitude laptop section. 

It appears that the latest Bios  and Intel IME Updates correct the issue.

After running the updates, I was finally able to clear the TPM in Bios and update the TPM firmware to 2.0