There are a couple of clues in this discussion in a non-Apple forum:
https://apple.stackexchange.com/questions/390620/macos-catalina-watchdog-timeout-kernel-panics
First, if you read the thread and compare your kernel panic report to the longer one in that thread, you will see the a portion of what you redacted from yours held a clue to the other user's panics:
Google Drive was part of the problem in that case. I suspect the useless anti-virus stuff was also contributing.
Other sites basically confirm the same thing—"watchdog" is exactly that. It monitors incoming signals, some from devices. If if fails to find something it expects, it get unhappy. I found several posts where the Macbook Pro touchbar was not responding and caused watchdog panics.
Kernel panics are hard to diagnose here but, if you post the entire panic log like you did before using the "Additional Text" tool, we may be able to see the specific device or function that is triggering the panics.