So I'm experiencing the same problem. I've had the Mac 12 hours. Plugged it into charge for the first time closed the lid, did some housework, opened the lid and I got this error:
panic(cpu 0 caller 0xffffff801b691b2c): Sleep transition timed out after 180 seconds while calling power state change callbacks. Suspected bundle: com.apple.iokit.IOGraphicsFamily. Thread 0x3c2a4.
Backtracing specified thread
Backtrace (CPU 0), Frame : Return Address
0xffffffa402c0b900 : 0xffffff801b0471e8
0xffffff83c39c3bc0 : 0xffffff801af433f1
0xffffff83c39c3c30 : 0xffffff801af41c2f
0xffffff83c39c3c80 : 0xffffff801b0442e9
0xffffff83c39c3cc0 : 0xffffff801b043b4b
0xffffff83c39c3cf0 : 0xffffff7f9ebacced
0xffffff83c39c3d20 : 0xffffff7f9ebc5fa3
0xffffff83c39c3d30 : 0xffffff7f9ebafcb9
0xffffff83c39c3dc0 : 0xffffff7f9ebbbeee
0xffffff83c39c3e00 : 0xffffff801b6152ea
0xffffff83c39c3ea0 : 0xffffff801b614c14
0xffffff83c39c3ec0 : 0xffffff801af63545
0xffffff83c39c3f40 : 0xffffff801af63071
0xffffff83c39c3fa0 : 0xffffff801aec713e
Kernel Extensions in backtrace:
com.apple.iokit.IOGraphicsFamily(575.1)[D47CA481-C5E5-3F03-9B04-6634DF5F3121]@0xffffff7f9eba4000->0xffffff7f9ebf4fff
dependency: com.apple.iokit.IOPCIFamily(2.9)[1B1F3BBB-9212-3CF9-94F8-8FEF0D3ACEC4]@0xffffff7f9b911000
BSD process name corresponding to current thread: kernel_task
Boot args: chunklist-security-epoch=0 -chunklist-no-rev2-dev
Mac OS version:
19E287
Kernel version:
Darwin Kernel Version 19.4.0: Wed Mar 4 22:28:40 PST 2020; root:xnu-6153.101.6~15/RELEASE_X86_64
Kernel UUID: AB0AA7EE-3D03-3C21-91AD-5719D79D7AF6
Kernel slide: 0x000000001ac00000
Kernel text base: 0xffffff801ae00000
__HIB text base: 0xffffff801ad00000