I have the same issue - this happens when I have open applications and the computer hibernates... iMac Mini M1 4 months old... VERY VERY FRUSTRATING!!!
panic(cpu 1 caller 0xfffffe0028e66cbc): watchdog timeout: no checkins from watchdogd in 93 seconds (15 total checkins since monitoring last enabled)
Debugger message: panic
Memory ID: 0xff
OS release type: User
OS version: 21C52
Kernel version: Darwin Kernel Version 21.2.0: Sun Nov 28 20:29:10 PST 2021; root:xnu-8019.61.5~1/RELEASE_ARM64_T8101
Fileset Kernelcache UUID: 0BB1D99520DD8B6DD172990B62E25173
Kernel UUID: 45FC3A32-3BC5-3F88-9300-71FBEF05D092
iBoot version: iBoot-7429.61.2
secure boot?: YES
Paniclog version: 13
KernelCache slide: 0x0000000020b30000
KernelCache base: 0xfffffe0027b34000
Kernel slide: 0x000000002135c000
Kernel text base: 0xfffffe0028360000
Kernel text exec slide: 0x0000000021444000
Kernel text exec base: 0xfffffe0028448000
mach_absolute_time: 0x28393fbcd58
Epoch Time: sec usec
Boot : 0x61f6ba1e 0x0007d668
Sleep : 0x61fc0675 0x0006dbc4
Wake : 0x61fc0759 0x00002e09
Calendar: 0x61fc084e 0x0000b4f6
Zone info:
Foreign : 0xfffffe002e850000 - 0xfffffe002e864000
Native : 0xfffffe10001fc000 - 0xfffffe30001fc000
Readonly : 0xfffffe14ccec8000 - 0xfffffe166685c000
Metadata : 0xfffffe6a55078000 - 0xfffffe6a60fc0000
Bitmaps : 0xfffffe6a5507c000 - 0xfffffe6a57ca4000
CORE 0 recently retired instr at 0xfffffe00285d36c4
CORE 1 recently retired instr at 0xfffffe00285d20d8
CORE 2 recently retired instr at 0xfffffe00285d36c4
CORE 3 recently retired instr at 0xfffffe00285d36c4
CORE 4 recently retired instr at 0xfffffe00285d36c8
CORE 5 recently retired instr at 0xfffffe00285d36c8
CORE 6 recently retired instr at 0xfffffe00285d36c8
CORE 7 recently retired instr at 0xfffffe00285d36c8
CORE 0 PVH locks held: None
CORE 1 PVH locks held: None
CORE 2 PVH locks held: None
CORE 3 PVH locks held: None
CORE 4 PVH locks held: None
CORE 5 PVH locks held: None
CORE 6 PVH locks held: None
CORE 7 PVH locks held: None
CORE 0: PC=0xfffffe0028458e68, LR=0xfffffe0028458e68, FP=0x0000000000000000
CORE 1 is the one that panicked. Check the full backtrace for details.
CORE 2: PC=0xfffffe00284cee00, LR=0xfffffe00284cee00, FP=0xfffffe6086ef3ef0
CORE 3: PC=0xfffffe00284cee00, LR=0xfffffe00284cee00, FP=0xfffffe6081f0bef0
CORE 4: PC=0xfffffe00284cee04, LR=0xfffffe00284cee00, FP=0xfffffe608682bef0
CORE 5: PC=0xfffffe00284cee04, LR=0xfffffe00284cee00, FP=0xfffffe608ee93ef0
CORE 6: PC=0xfffffe00284cee04, LR=0xfffffe00284cee00, FP=0xfffffe60865dbef0
CORE 7: PC=0xfffffe00284cee04, LR=0xfffffe00284cee00, FP=0xfffffe60868cbef0
Total cpu_usage: 60803380
Thread task pri cpu_usage
0xfffffe24cd4a0820 kernel_task 95 42672
0xfffffe24ccf29040 kernel_task 0 5262483
0xfffffe24ccf569a0 kernel_task 0 5255472
0xfffffe24ccf48820 kernel_task 0 5117993
0xfffffe24cd4a5140 kernel_task 0 6164238
Panicked task 0xfffffe20003bc678: 0 pages, 494 threads: pid 0: kernel_task
Panicked thread: 0xfffffe24ccf48820, backtrace: 0xfffffe60445bf800, tid: 453
lr: 0xfffffe002849a4c0 fp: 0xfffffe60445bf870
lr: 0xfffffe002849a190 fp: 0xfffffe60445bf8e0
lr: 0xfffffe00285d973c fp: 0xfffffe60445bf900
lr: 0xfffffe00285cc024 fp: 0xfffffe60445bf980
lr: 0xfffffe00285c9a74 fp: 0xfffffe60445bfa40
lr: 0xfffffe002844f7f8 fp: 0xfffffe60445bfa50
lr: 0xfffffe0028499e08 fp: 0xfffffe60445bfdf0
lr: 0xfffffe0028499e08 fp: 0xfffffe60445bfe60
lr: 0xfffffe0028caf004 fp: 0xfffffe60445bfe80
lr: 0xfffffe0028e66cbc fp: 0xfffffe60445bfeb0
lr: 0xfffffe0028e660a4 fp: 0xfffffe60445bfef0
lr: 0xfffffe0028e63b18 fp: 0xfffffe60445bff10
lr: 0xfffffe0029651b70 fp: 0xfffffe60445bffb0
lr: 0xfffffe0028bfcf0c fp: 0xfffffe60445bffc0
lr: 0xfffffe00285ccb64 fp: 0xfffffe60445bffe0
lr: 0xfffffe002844f86c fp: 0xfffffe60445bfff0
lr: 0xfffffe00284cee00 fp: 0xfffffe608eb83ef0
lr: 0xfffffe00284cf018 fp: 0xfffffe608eb83f20
lr: 0xfffffe0028458e78 fp: 0x0000000000000000
Kernel Extensions in backtrace:
com.apple.driver.AppleInterruptController(1.0d1)[0BCA34E2-58DE-3CB8-8BDF-B317DFA1434B]@0xfffffe002964f440->0xfffffe0029652b83
dependency: com.apple.driver.AppleARMPlatform(1.0.2)[1C04FFC7-DD27-3161-A460-F936CDBDBA3E]@0xfffffe0028e1a260->0xfffffe0028e629ff
com.apple.driver.AppleARMWatchdogTimer(1.0)[C9B89662-4FED-3B89-88C4-3BD5B8AD87CF]@0xfffffe0028e62a00->0xfffffe0028e6718b
dependency: com.apple.driver.AppleARMPlatform(1.0.2)[1C04FFC7-DD27-3161-A460-F936CDBDBA3E]@0xfffffe0028e1a260->0xfffffe0028e629ff
last started kext at 632469787: com.apple.driver.driverkit.serial 6.0.0 (addr 0xfffffe002823cd90, size 3432)
loaded kexts:
com.apple.driver.AppleTopCaseHIDEventDriver 5020.1
com.apple.filesystems.autofs 3.0
com.apple.fileutil 20.036.15
com.apple.fsplaceholder 1.14.1
com.apple.UVCService 1
com.apple.driver.AppleBiometricServices 1
com.apple.driver.CoreKDL 1
com.apple.driver.AppleAOPVoiceTrigger 100.1
com.apple.driver.DiskImages.ReadWriteDiskImage 493.0.0
com.apple.driver.DiskImages.UDIFDiskImage 493.0.0
com.apple.driver.DiskImages.RAMBackingStore 493.0.0
com.apple.driver.DiskImages.FileBackingStore 493.0.0
com.apple.driver.BCMWLANFirmware4378.Hashstore 1
com.apple.driver.SEPHibernation 1
com.apple.filesystems.apfs 1933.61.1
com.apple.iokit.AppleBCM5701Ethernet 11.0.0
com.apple.driver.AppleSmartBatteryManager 161.0.0
com.apple.driver.AppleUSBDeviceNCM 5.0.0
com.apple.driver.AppleThunderboltIP 4.0.3
com.apple.driver.AppleFileSystemDriver 3.0.1
com.apple.nke.l2tp 1.9
com.apple.filesystems.tmpfs 1
com.apple.driver.ApplePMP 1
com.apple.driver.AppleSmartIO2 1