You are not alone. This thread about the Crackling/Popping from 2 years ago: How to Fix Cracking and Popping Sound ?. Also in the Apple Community Forums: Macbook Pro M1 16 inch popping audio.
All indicates it is a software issue and Apple Support can't do anything about it. I suggest everyone reading this submit a bug report so that sometime in the next decade they will care to fix this massively annoying problem. Bug report page: Feedback - Apple.
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This error is also reported in the community forums: https://origin-discussions-us.apple.com/thread/253681560
I'm getting the same error in the console when my 2021 M1 14" Macbook Pro 32GB RAM goes above ~25GB RAM usage. This error is from the coreaudiod process and libAudioStatistics.dylib library:
"HAL_client_IO_duration" = 106833;
HostApplicationDisplayID = "com.spotify.client";
cause = PageFaultsOffIOThread;
deadline = 69794966;
"input_device_source_list" = "";
"input_device_transport_list" = "";
"input_device_uid_list" = "";
"io_buffer_size" = 512;
"io_cycle" = 136317;
"io_cycle_budget" = 12358250;
"io_page_faults" = 0;
"is_prewarming" = 0;
"is_recovering" = 0;
"issue_type" = overload;
lateness = 174;
"other_page_faults" = 29;
"output_device_source_list" = "Internal Speaker";
"output_device_transport_list" = BuiltIn;
"output_device_uid_list" = BuiltInSpeakerDevice;
"safety_violation" = 0;
"sample_rate" = 44100;
"scheduler_latency" = 15497916;
"smallest_buffer_frame_size" = 512;
}: (
2632814952562
)
Just milliseconds before it the Spotify process issued this console error message from the CoreAudio library:
HALC_ProxyIOContext::IOWorkLoop: skipping cycle due to overload
This is definitely a bug related to memory usage. I've reported it as so and linked both community and dev forum posts. I suggest everyone reading this does the same so that it will sometime in the next decade be fixed. Link to report Macbook Pro bug: https://www.apple.com/feedback/macbookpro.html