Pink Screen and Restarting on M1 MacBook Air 2020

I bought an M1 MacBook Pro last year that continually had this pink screen problem. I reinstalled macOS and it continued. I decided it must be a hardware issue, so since I was within my return period, I returned it for a refund. I bought another M1 MacBook Pro with a bigger SSD this time, the one I am currently typing on. This one also has pink screen resets.

I am not using Parallels in any way and have never had it installed on any of my systems.

Here is the cadence of pink screen kernel panics since the problem began on this unit:

1. July 15, 2021
2. July 18, 2021
3. July 25, 2021
4. July 30, 2021
5. August 1, 2021
6. August 12, 2021
7. August 19, 2021

It usually happens after waking the computer when it's a sleep. I open the screen, use it for a few minutes, I get a pink screen and instant reboot. This is always at the top of the kernel panic information that shows up after the reboot:

panic(cpu 2 caller 0xfffffe001741aa1c): "busy timeout[0], (60s): 'AppleAPFSMedia'"

The issue appears to always be AppleAPFSMedia related. I called Apple Support and asked them to search their CRM for other support issues related to the pink screen. I was told they have no other reports of pink screen anything. This thread has video evidence and multiple people with multiple affected units. They asked me to reformat, reinstall macOS, and see if the pink screen kernel panics continue. If they continue, I will call back.

I also received a new work computer for my new job. It is an M1 MacBook Pro. I will report back if this third unit starts to exhibit pink screen kernel panics and if my experience goes from a 66% failure rate of M1 hardware to 100%.