Running Mac OS 11.6.2 and have been chasing this issue for multiple weeks. Every time I go through a sleep/wake cycle, if the Mac was removed from the Dock (and sometimes when it is re-attached to the dock) the Mac power cycles and throws a crash report, which I dutifully submit to Apple.
Given that this is A) widespread and ongoing for weeks across all M1 models on Big Sur 11.3 and later, and given that Big Sur is no longer being supported fully by Apple (e.g., they've moved on to Monterey) the conclusion I reach is that they will not be fixing this, which is disappointed. We could summarize the passive reply from Apple as follows:
"Sorry, but our defective operating system will not be fixed. Please update to our next buggy operating system, Monterey, and maybe the issue will be fixed there."
This is seriously disappointing, of course. Apple supposedly supports the current OS and the previous 2, but in this case all available info from Apple and the support community leads to the conclusion that updating to Monterey is the only way to regain stability on the Mac M1 platform. Lost data? Lost reliability? Lost of confidence? Apple: "we don't care."