Experiencing this issue with a 2021 M1 Pro on Venture 13.2 using a Schiit Modi USB DAC.
Every time audio cuts out I see one of these two logs for coreaudiod in Console:
HALS_OverloadMessage.cpp:267 HALS_OverloadMessage: Overload due to HAL client proc exceeding io cycle budget
HALS_IOA1Engine.cpp:439 HALS_IOA1Engine::EndWriting: got an error from the kernel trap, Error: 0xE00002D7