The action begins at 6:30. The hole in the street has nice clean edges like it failed along the existing joints of an earlier patch job in the black top.
Looks like there was previous work done to possibly a leaking water main that was less than successful. The pavement was saw cut around the perimeter of the hole. I’m guessing some contractor is on the hook to come back and fix it correctly.
My guess there is a water main that has been leaking for a long time causing the soil to erode away over time then the pavement broke along normal expansion cuts.
There is writing on the square piece of cement that fell into the hole. It probably says don’t drive on this Union patch.