I have not tested at all with this brand-new version of Mac OS X. Many third-party vendors (including Adobe) are recommending holding off on upgrading as their software does not yet work under Catalina. So I am not surprised to hear there are problems with PyQt (probably Qt) and Catalina.
That being said, the message you show arises when both the "import PyQt5" and "import PyQt4" python commands fail. I doubt it will help, but attempting to run these import commands might give more information about the problem. So something like the following commands ("$" prompt are shell commands, ">>>" prompt are python commands, replace "FERRET" with whatever environment name you used for PyFerret):
$ conda activate FERRET
$ python3
>>> import PyQt5
>>> exit()
Kind regards,
Karl
Karl M. Smith, Ph.D.
JISAO Univ. Wash. and PMEL NOAA
"The contents of this message are mine personally and do
not necessarily reflect any position of the Government
or the National Oceanic and Atmospheric Administration."