DO NOT LET YOUR MACBOOK SHUT DOWN! IT WONT TURN ON.
I had the same issue!
I have a MacBook Pro (2016) and after updating to BigSur that same message appeared on my settings. Two hours later my computer completely died and it hasn’t turned on since then. It seemed as if updating to the Big Sur software damaged the battery lifestyle. I tried getting a hold of Apple Customer service but they aren’t being helpful and tried claiming the issue is not related to the software update. So really, the only thing left is to replace the battery or buy a new one, if they won’t fix it for free at the store :/