12.1 works! My office just approved 12.1 this week and I was able to upgrade beyond 12.0.1. I haven't had a kernel panic in days, and I've been able to keep my lid closed and wake it with my bluetooth keyboard.

I receive panic(cpu 1 caller 0xfffffff01d67a024): x86 CPU CATERR detected at least daily on my MacBook Pro (16-inch, 2019), which is connected via TB3 to a Samsung monitor with a hub built-in. I have a MacBook Pro (15-inch, 2018) connected in the same way, using the same cable, connected to the same model of monitor, and it never has a problem - this is obviously a hardware issue with the 16-inch 2019 models based on all the messages here. The 2019 model is my work system, so I am currently held back to Monterey 12.0.1, but experienced these issues in Catalina as well. Full panic snippet: panic(cpu 1 caller 0xfffffff01d67a024): x86 CPU CATERR detected Debugger message: panic Memory ID: 0x6 OS release type: User OS version: 19P549 macOS version: 21A559 Kernel version: Darwin Kernel Version 21.1.0: Wed Oct 13 18:09:06 PDT 2021; root:xnu-8019.41.5~2\/RELEASE_ARM64_T8010 Kernel UUID: 5206FA9B-BD6D-381D-A198-5F6E6A09B67F iBoot version: iBoot-7429.41.4 secure boot?: YES x86 EFI Boot State: 0x16 x86 System State: 0x0 x86 Power State: 0x0 x86 Shutdown Cause: 0x1 x86 Previous Power Transitions: 0x70707060400 PCIeUp link state: 0x89271614 Paniclog version: 13 Kernel slide: 0x00000000155ec000 Kernel text base: 0xfffffff01c5f0000 mach_absolute_time: 0x7e76f1e08f0 Epoch Time: sec usec Boot : 0x61d86dce 0x0002483c Sleep : 0x00000000 0x00000000 Wake : 0x00000000 0x00000000 Calendar: 0x61ddf443 0x000712f6 Zone info: Foreign : 0xfffffff0741b4000 - 0xfffffff0741c4000 Native : 0xffffffe0003b8000 - 0xffffffe6003b8000 Readonly : 0 - 0 Metadata : 0xffffffeb009c8000 - 0xffffffeb04b98000 Bitmaps : 0xffffffeb021c8000 - 0xffffffeb02430000 CORE 0: PC=0xfffffff01cf119f8, LR=0xfffffff01d51a220, FP=0xffffffeb0faebd50 CORE 1 is the one that panicked. Check the full backtrace for details. Panicked task 0xffffffe0f2c74658: 0 pages, 230 threads: pid 0: kernel_task Panicked thread: 0xffffffe0f35d8000, backtrace: 0xffffffeb0ee83670, tid: 426 lr: 0xfffffff01cdd7388 fp: 0xffffffeb0ee836b0 lr: 0xfffffff01cdd7118 fp: 0xffffffeb0ee83720 lr: 0xfffffff01cf0feac fp: 0xffffffeb0ee837a0 lr: 0xfffffff01cf0f03c fp: 0xffffffeb0ee83850 lr: 0xfffffff01d4395fc fp: 0xffffffeb0ee83860 lr: 0xfffffff01cdd6e2c fp: 0xffffffeb0ee83bf0 lr: 0xfffffff01cdd6e2c fp: 0xffffffeb0ee83c50 lr: 0xfffffff01df2b488 fp: 0xffffffeb0ee83c70 lr: 0xfffffff01d67a024 fp: 0xffffffeb0ee83ca0 lr: 0xfffffff01d666f5c fp: 0xffffffeb0ee83d00 lr: 0xfffffff01d66d410 fp: 0xffffffeb0ee83d50 lr: 0xfffffff01d668e48 fp: 0xffffffeb0ee83df0 lr: 0xfffffff01d666640 fp: 0xffffffeb0ee83e70 lr: 0xfffffff01d518db4 fp: 0xffffffeb0ee83ea0 lr: 0xfffffff01d37f3a4 fp: 0xffffffeb0ee83ee0 lr: 0xfffffff01d37ebb4 fp: 0xffffffeb0ee83f20 lr: 0xfffffff01d4445a0 fp: 0x0000000000000000