Disable field or button if user exceeds number of tries

I'm currently facing this design issue: When a user exceeds the number of attempts given to fill up a verification code field, he or she will not be able to try again until 20min later. If within this period, he attempts again, it resets the clock.

I'm thinking of disabling the button during the 20min to prevent the user from submitting an input. Have this design pattern been used before? I'm wondering what the drawbacks are for this.