The same issue happened to me (Macbook air mid 2013) Crash several times a day for specific scenario. It was very stable until I updated to Big Sur.
panic(cpu 2 caller 0xffffff800c3fd9b8): watchdog timeout: no checkins from watchdogd in 92 seconds (52 total checkins since monitoring last enabled)
Backtrace (CPU 2), Frame : Return Address
0xffffffa041483c00 : 0xffffff800908b26d
0xffffffa041483c50 : 0xffffff80091d2993
0xffffffa041483c90 : 0xffffff80091c2f8a
0xffffffa041483ce0 : 0xffffff800902fa2f
0xffffffa041483d00 : 0xffffff800908aa8d
0xffffffa041483e20 : 0xffffff800908ad83
0xffffffa041483e90 : 0xffffff800989c664
0xffffffa041483f00 : 0xffffff800c3fd9b8
0xffffffa041483f20 : 0xffffff800c3fd2e1
0xffffffa041483f50 : 0xffffff800a76565f
0xffffffa041483fa0 : 0xffffff800902f13e
Kernel Extensions in backtrace:
com.apple.driver.watchdog(1.0)[2D86F5DD-383E-31C1-AA43-619FAB03C75B]@0xffffff800c3fb000->0xffffff800c3fdfff
com.apple.driver.AppleSMC(3.1.9)[63716D6F-8C07-3CF3-822B-C162FEE3710F]@0xffffff800a756000->0xffffff800a76efff
dependency: com.apple.driver.watchdog(1)[2D86F5DD-383E-31C1-AA43-619FAB03C75B]@0xffffff800c3fb000->0xffffff800c3fdfff
dependency: com.apple.iokit.IOACPIFamily(1.4)[D8EB9D11-8304-311A-9B3D-34C1D131A452]@0xffffff800b645000->0xffffff800b646fff
dependency: com.apple.iokit.IOPCIFamily(2.9)[4169693C-CDDE-3CA7-800A-F665762B5B4C]@0xffffff800bb6c000->0xffffff800bb94fff
Process name corresponding to current thread: kernel_task
Mac OS version:
20G624