Happening on my mid-2014 MacBook Pro.
panic(cpu 2 caller 0xffffff80165fda25): userspace watchdog timeout: no successful checkins from com.apple.logd in 120 seconds
service returned not alive with context : unresponsive dispatch queue(s): com.apple.firehose.io-wl
service: com.apple.logd, total successful checkins since load (650 seconds ago): 54, last successful checkin: 120 seconds ago
service: com.apple.WindowServer, total successful checkins since load (620 seconds ago): 62, last successful checkin: 0 seconds ago
MacOS Big Sur 11.6.1